Aire Advisors LLC Boosts Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Aire Advisors LLC boosted its position in Archer Aviation Inc. (NYSE:ACHR) by 16.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,500 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Aire Advisors LLC’s holdings in Archer Aviation were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. raised its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the period. Sanctuary Advisors LLC lifted its stake in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares in the last quarter. Xponance Inc. boosted its holdings in Archer Aviation by 8.5% in the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the period. Hollencrest Capital Management grew its stake in Archer Aviation by 7.4% in the 4th quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock valued at $254,000 after buying an additional 1,800 shares in the last quarter. Finally, Interchange Capital Partners LLC raised its holdings in Archer Aviation by 8.0% during the 4th quarter. Interchange Capital Partners LLC now owns 26,494 shares of the company’s stock valued at $258,000 after acquiring an additional 1,972 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, Needham & Company LLC raised 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Trading Up 2.2 %

Shares of ACHR stock opened at $8.92 on Tuesday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.84 billion, a P/E ratio of -6.75 and a beta of 3.14. The business has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $6.76. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. Equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 99,224 shares of the company’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 $764,024.80. Following the completion of the sale, the chief technology officer now directly owns 1,131,443 shares in the company, valued at $8,712,111.10. This represents a 8.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares in the company, valued at approximately $409,832.50. This trade represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,985 shares of company stock valued at $2,555,685. Insiders own 9.75% of the company’s stock.

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.