Archer Aviation Inc. $ACHR Shares Bought by Odyssean LLC

Odyssean LLC lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHRFree Report) by 707.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,940 shares of the company’s stock after acquiring an additional 228,606 shares during the period. Odyssean LLC’s holdings in Archer Aviation were worth $1,234,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. ARK Investment Management LLC increased its position in Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. State Street Corp boosted its holdings in shares of Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after purchasing an additional 3,293,130 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Archer Aviation by 21.6% in the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after purchasing an additional 2,796,488 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after buying an additional 1,867,648 shares during the period. Finally, Amova Asset Management Americas Inc. grew its stake in shares of Archer Aviation by 21.7% during the 4th quarter. Amova Asset Management Americas Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after buying an additional 1,413,774 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACHR has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Canaccord Genuity Group dropped their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $11.50.

View Our Latest Analysis on ACHR

Archer Aviation Price Performance

Archer Aviation stock opened at $5.72 on Friday. Archer Aviation Inc. has a 52-week low of $4.30 and a 52-week high of $14.62. The firm has a fifty day moving average of $5.41 and a 200-day moving average of $5.81. The firm has a market capitalization of $4.40 billion, a P/E ratio of -5.30 and a beta of 3.23. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. As a group, analysts predict that Archer Aviation Inc. will post -1.37 EPS for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider directly owned 85,011 shares of the company’s stock, valued at $536,419.41. This trade represents a 54.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 180,411 shares of company stock worth $1,141,141. Corporate insiders own 5.55% of the company’s stock.

Archer Aviation Company Profile

(Free Report)

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

Further Reading

Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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