Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 15.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,341 shares of the company’s stock after buying an additional 8,431 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Archer Aviation were worth $186,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management increased its holdings in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares in the last quarter. Townsquare Capital LLC grew its position in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. Hsbc Holdings PLC increased its stake in Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares in the last quarter. CWM LLC raised its holdings in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of Archer Aviation by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Finally, Needham & Company LLC assumed coverage on Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.33.

Archer Aviation Price Performance

Shares of ACHR opened at $8.28 on Monday. The business’s 50-day moving average is $4.42 and its two-hundred day moving average is $3.94. The company has a market capitalization of $3.52 billion, a P/E ratio of -6.27 and a beta of 3.19. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $9.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the business earned ($0.19) earnings per share. Research analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, CEO Adam D. Goldstein acquired 19,762 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the completion of the acquisition, the chief executive officer now owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Deborah Diaz bought 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,069,958 shares of company stock valued at $5,461,608 in the last three months. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.