Tidal Investments LLC Boosts Position in Archer Aviation Inc. (NYSE:ACHR)

Tidal Investments LLC raised its stake in Archer Aviation Inc. (NYSE:ACHR) by 29.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,518 shares of the company’s stock after purchasing an additional 3,339 shares during the period. Tidal Investments LLC’s holdings in Archer Aviation were worth $44,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HBK Investments L P acquired a new position in shares of Archer Aviation in the 3rd quarter valued at $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation in the third quarter valued at $3,429,000. Stifel Financial Corp grew its holdings in shares of Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. Barclays PLC increased its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Trading Up 15.1 %

Shares of Archer Aviation stock opened at $10.80 on Thursday. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of -8.18 and a beta of 3.19. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $11.06. The company’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $4.40. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACHR. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald increased their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Canaccord Genuity Group increased their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.63.

Insiders Place Their Bets

In related news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is currently owned by company insiders.

About Archer Aviation

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.