Citizens Financial Group Inc. RI Takes $224,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Citizens Financial Group Inc. RI acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 23,000 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock valued at $501,000 after acquiring an additional 36,840 shares during the period. HBK Investments L P bought a new position in Archer Aviation during the 3rd quarter worth approximately $6,818,000. ARK Investment Management LLC grew its holdings in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the period. Finally, Yarbrough Capital LLC bought a new stake in Archer Aviation in the fourth quarter valued at approximately $6,039,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $7.88 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a 50-day moving average of $9.09 and a 200-day moving average of $6.48. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -5.97 and a beta of 3.14. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results 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. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares in the company, valued at approximately $10,083,240. This trade represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $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 three months, insiders have sold 545,498 shares of company stock valued at $4,920,815. 9.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. 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 research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price 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.