IPG Investment Advisors LLC Buys Shares of 14,500 Archer Aviation Inc. (NYSE:ACHR)

IPG Investment Advisors LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 14,500 shares of the company’s stock, valued at approximately $141,000.

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

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 49,273 shares of the company’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 transaction of $379,402.10. Following the sale, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. This represents a 17.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,985 shares of company stock valued at $2,555,685. Corporate insiders own 9.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald increased their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $7.26 on Monday. 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 firm has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. The stock’s 50-day moving average is $8.75 and its 200-day moving average is $6.89. Archer Aviation Inc. has a one year low of $2.82 and a one year 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 predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal 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.