Archer Aviation Inc. (NYSE:ACHR) Shares Bought by ARK Investment Management LLC

ARK Investment Management LLC raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 27.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 29,912,089 shares of the company’s stock after acquiring an additional 6,371,647 shares during the period. Archer Aviation accounts for about 2.4% of ARK Investment Management LLC’s holdings, making the stock its 10th biggest position. ARK Investment Management LLC owned 0.07% of Archer Aviation worth $291,643,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ACHR. GPS Wealth Strategies Group LLC grew its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Archer Aviation during the 4th quarter valued at $49,000. Amalgamated Bank grew its stake in shares of Archer Aviation by 50.7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock valued at $78,000 after buying an additional 2,680 shares during the period. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at $26,000. Finally, Versant Capital Management Inc grew its stake in shares of Archer Aviation by 74.3% during the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after buying an additional 3,430 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

NYSE:ACHR opened at $7.77 on Wednesday. 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 50-day moving average of $9.63 and a two-hundred day moving average of $6.18. The stock has a market cap of $3.30 billion, a P/E ratio of -5.88 and a beta of 3.14. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48.

Analyst Upgrades and Downgrades

ACHR has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. 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 note on Friday, February 21st. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group decreased their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis acquired 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was bought at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock valued at $8,473,770 in the last ninety days. Insiders own 9.75% of the company’s stock.

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.