Archer Aviation Inc. $ACHR Shares Purchased by EMC Capital Management

EMC Capital Management raised its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 300.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 10,000 shares of the company’s stock after buying an additional 7,500 shares during the period. EMC Capital Management’s holdings in Archer Aviation were worth $109,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Archer Aviation by 44.1% in the second quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock valued at $130,125,000 after acquiring an additional 3,671,753 shares in the last quarter. Vanguard Group Inc. raised its stake in Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Nuveen LLC acquired a new position in Archer Aviation in the 1st quarter valued at about $22,423,000. ARK Investment Management LLC lifted its holdings in Archer Aviation by 8.3% in the 2nd quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company’s stock valued at $321,003,000 after purchasing an additional 2,270,471 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Archer Aviation by 36.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company’s stock worth $22,080,000 after purchasing an additional 827,893 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Down 1.9%

Shares of ACHR opened at $7.46 on Thursday. Archer Aviation Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $14.62. The company’s fifty day moving average is $10.22 and its two-hundred day moving average is $10.21. The firm has a market cap of $4.86 billion, a PE ratio of -5.92 and a beta of 3.07. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Lentell sold 41,490 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the sale, the insider owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 over the last 90 days. Company insiders own 7.65% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of analyst reports. Cantor Fitzgerald set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, November 10th. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, Needham & Company LLC reduced their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $12.57.

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.