Intech Investment Management LLC Boosts Holdings in Archer Aviation Inc. (NYSE:ACHR)

Intech Investment Management LLC increased its holdings in Archer Aviation Inc. (NYSE:ACHR) by 52.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,547 shares of the company’s stock after acquiring an additional 35,715 shares during the quarter. Intech Investment Management LLC’s holdings in Archer Aviation were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ACHR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after buying an additional 94,430 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in Archer Aviation by 99.0% during the third quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock valued at $292,000 after purchasing an additional 47,975 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Archer Aviation by 15.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock valued at $186,000 after purchasing an additional 8,431 shares in the last quarter. Finally, HBK Investments L P purchased a new position in Archer Aviation during the third quarter valued at approximately $6,818,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 5.3 %

Shares of ACHR opened at $8.72 on Friday. The company’s fifty day moving average is $8.80 and its 200 day moving average is $6.69. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The stock has a market capitalization of $4.73 billion, a PE ratio of -6.60 and a beta of 3.14. 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 announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Eric Lentell sold 43,230 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,985 shares of company stock worth $2,555,685. Insiders own 9.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ACHR shares. Needham & Company LLC lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Finally, Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

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.