Levin Capital Strategies L.P. Invests $70,000 in Archer Aviation Inc. (NYSE:ACHR)

Levin Capital Strategies L.P. bought a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,000 shares of the company’s stock, valued at approximately $70,000.

Other institutional investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Archer Aviation by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after buying an additional 5,611 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Archer Aviation by 13.7% during the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after acquiring an additional 7,184 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Archer Aviation by 50.0% in the 4th quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after acquiring an additional 8,246 shares during the last quarter. Finally, Interchange Capital Partners LLC raised its position in shares of Archer Aviation by 48.7% during the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock worth $120,000 after acquiring an additional 8,361 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. HC Wainwright began coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Barclays decreased their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research note on Friday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday. Finally, Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.00.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 27.17% of the company’s stock.

Archer Aviation Trading Up 0.6 %

Shares of Archer Aviation stock opened at $3.30 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.02 and a beta of 2.33. Archer Aviation Inc. has a 1 year low of $3.00 and a 1 year high of $7.10. The company’s fifty day moving average is $4.03 and its two-hundred day moving average is $4.00.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. Analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

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.