Blair William & Co. IL Boosts Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Blair William & Co. IL boosted its stake in Archer Aviation Inc. (NYSE:ACHR) by 407.2% during the 4th quarter, Holdings Channel reports. The firm owned 456,307 shares of the company’s stock after buying an additional 366,333 shares during the quarter. Blair William & Co. IL’s holdings in Archer Aviation were worth $4,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ACHR. Intech Investment Management LLC purchased a new stake in shares of Archer Aviation in the third quarter worth about $206,000. Charles Schwab Investment Management Inc. increased its stake 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 worth $5,547,000 after acquiring an additional 94,430 shares during the last quarter. Townsquare Capital LLC raised its holdings in shares of 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 acquiring an additional 3,033 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of Archer Aviation by 99.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock valued at $292,000 after acquiring an additional 47,975 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Archer Aviation by 15.9% in 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. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

ACHR stock opened at $7.26 on Monday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. 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 business’s fifty day simple moving average is $8.75 and its two-hundred day simple moving average is $6.89.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In related news, General Counsel Eric Lentell sold 43,230 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the sale, the general counsel now directly owns 53,225 shares of the company’s stock, valued at $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. This trade represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,985 shares of company stock valued at $2,555,685. Corporate insiders own 9.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ACHR shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.