PFG Investments LLC Buys 3,192 Shares of Archer Aviation Inc. (NYSE:ACHR)

PFG Investments LLC lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,821 shares of the company’s stock after buying an additional 3,192 shares during the period. PFG Investments LLC’s holdings in Archer Aviation were worth $223,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after purchasing an additional 268,896 shares in the last quarter. HBK Investments L P acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. raised its holdings in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the last quarter. Sora Investors LLC acquired a new stake in Archer Aviation during the 3rd quarter worth approximately $3,429,000. Finally, Intellectus Partners LLC grew its holdings in Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after acquiring an additional 11,800 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Trading Up 1.7 %

Shares of ACHR stock opened at $9.43 on Friday. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a 50 day simple moving average of $9.09 and a two-hundred day simple moving average of $5.55. The company has a market cap of $4.01 billion, a P/E ratio of -7.14 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) EPS. Research analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Activity

In other news, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction on Monday, November 25th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ACHR shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research note on Thursday, January 16th. Canaccord Genuity Group raised their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Company 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.