11,664 Shares in Archer Aviation Inc. (NYSE:ACHR) Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC 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. The fund acquired 11,664 shares of the company’s stock, valued at approximately $114,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ACHR. GPS Wealth Strategies Group LLC increased its holdings 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 worth $33,000 after purchasing an additional 2,975 shares during the period. Tidal Investments LLC increased its holdings in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares during the period. US Bancorp DE increased its holdings in shares of Archer Aviation by 2,725.3% during the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after purchasing an additional 4,306 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Archer Aviation by 50.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after purchasing an additional 5,000 shares during the period. Finally, Townsquare Capital LLC increased its holdings in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the period. Institutional investors own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 49,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief technology officer now owns 1,120,360 shares in the company, valued at $10,083,240. This represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 545,498 shares of company stock worth $4,920,815. Corporate insiders own 9.75% of the company’s stock.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC upped their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Price Performance

NYSE:ACHR opened at $7.88 on Friday. The firm has a market cap of $4.27 billion, a PE ratio of -5.97 and a beta of 3.14. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $9.01 and its two-hundred day moving average price is $6.52.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Archer Aviation Company 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.