Oxford Asset Management LLP Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Oxford Asset Management LLP acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,650 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors have also recently bought and sold shares of the company. Conquis Financial LLC acquired a new position in Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. raised its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the last quarter. Harbour Investments Inc. raised its holdings in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC raised its holdings in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its holdings in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACHR. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Monday, April 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Insiders Place Their Bets

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the sale, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This represents a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 over the last 90 days. Corporate insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $8.54 on Tuesday. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $7.70 and its 200 day simple moving average is $7.54. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -6.47 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. Sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.