46,007 Shares in Archer Aviation Inc. (NYSE:ACHR) Acquired by FORA Capital LLC

FORA Capital LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 46,007 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds have also recently bought and sold shares of the company. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth about $29,000. Harbour Investments Inc. boosted its position in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares in the last quarter. Oarsman Capital Inc. grew its stake in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the last quarter. Anchor Investment Management LLC increased its holdings in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its stake in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after acquiring an additional 2,975 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. This trade represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the transaction, the chief technology officer now owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 474,780 shares of company stock valued at $3,581,581 over the last three months. 9.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a report on Monday, April 21st. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Trading Up 0.6 %

Shares of NYSE ACHR opened at $8.81 on Friday. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The firm has a market capitalization of $4.78 billion, a P/E ratio of -6.67 and a beta of 3.13. 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 company’s 50 day simple moving average is $7.74 and its 200 day simple moving average is $7.82.

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

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.