Yorkville Advisors Global LP Acquires Shares of 340,000 Archer Aviation Inc. $ACHR

Yorkville Advisors Global LP acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 340,000 shares of the company’s stock, valued at approximately $2,557,000. Archer Aviation comprises 1.6% of Yorkville Advisors Global LP’s holdings, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ACHR. Strs Ohio purchased a new stake in Archer Aviation in the first quarter valued at approximately $27,000. Johnson Investment Counsel Inc. acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $29,000. Basepoint Wealth LLC acquired a new position in shares of Archer Aviation in the fourth quarter valued at approximately $32,000. Center for Financial Planning Inc. increased its holdings in shares of Archer Aviation by 138.8% in the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after purchasing an additional 2,040 shares during the period. Finally, Danske Bank A S increased its holdings in shares of Archer Aviation by 181.3% in the fourth quarter. Danske Bank A S now owns 4,500 shares of the company’s stock valued at $34,000 after purchasing an additional 2,900 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 3.2%

Shares of ACHR stock opened at $6.53 on Thursday. The business’s fifty day moving average price is $5.94 and its 200 day moving average price is $6.99. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62. The firm has a market capitalization of $4.96 billion, a PE ratio of -5.93 and a beta of 3.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group dropped their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Needham & Company LLC dropped their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Five investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Insider Activity

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the sale, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. This trade represents a 4.96% 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. Insiders have sold a total of 282,840 shares of company stock valued at $1,703,688 over the last three months. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Profile

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.