Granahan Investment Management LLC Lowers Holdings in Archer Aviation Inc. $ACHR

Granahan Investment Management LLC trimmed its holdings in Archer Aviation Inc. (NYSE:ACHRFree Report) by 41.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,713,170 shares of the company’s stock after selling 1,226,930 shares during the quarter. Granahan Investment Management LLC’s holdings in Archer Aviation were worth $12,883,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ACHR. AQR Capital Management LLC purchased a new stake in Archer Aviation in the first quarter valued at $293,000. Integrated Wealth Concepts LLC boosted its holdings in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Archer Aviation by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after purchasing an additional 59,317 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after acquiring an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Archer Aviation by 51.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after acquiring an additional 285,414 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group lowered their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Needham & Company LLC lowered their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

View Our Latest Stock Report on Archer Aviation

Archer Aviation Trading Down 2.1%

ACHR stock opened at $5.44 on Wednesday. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a 12-month low of $4.80 and a 12-month high of $14.62. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -4.94 and a beta of 3.14. The business’s 50-day moving average is $5.98 and its 200 day moving average is $6.87.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the firm posted ($0.17) EPS. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $73,863.30. Following the completion of the sale, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. The trade was a 12.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is currently owned by corporate insiders.

Archer Aviation News Summary

Here are the key news stories impacting Archer Aviation this week:

Archer Aviation 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

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

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