Aspiring Ventures LLC Takes $133,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Aspiring Ventures LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 13,635 shares of the company’s stock, valued at approximately $133,000.

A number of other hedge funds have also bought and sold shares of ACHR. HBK Investments L P acquired a new position in Archer Aviation in the third quarter valued at approximately $6,818,000. Sora Investors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter valued at $3,429,000. Yarbrough Capital LLC acquired a new position in shares of Archer Aviation during the 4th quarter valued at $6,039,000. Stifel Financial Corp boosted its stake in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after acquiring an additional 391,092 shares in the last quarter. Finally, Barclays PLC grew its holdings in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. Institutional investors own 59.34% of the company’s stock.

Insider Activity at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by insiders.

Archer Aviation Stock Up 0.7 %

Shares of NYSE:ACHR opened at $9.96 on Friday. The business’s 50 day moving average is $8.70 and its 200 day moving average is $5.39. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -7.54 and a beta of 3.15. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued 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 last year, the company posted ($0.19) earnings per share. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACHR shares. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group raised their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.38.

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.