Clear Street Group Inc. Grows Stock Position in Archer Aviation Inc. $ACHR

Clear Street Group Inc. lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 94.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,110,555 shares of the company’s stock after purchasing an additional 1,025,060 shares during the quarter. Clear Street Group Inc. owned about 0.32% of Archer Aviation worth $15,871,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after acquiring an additional 16,452,398 shares during the last quarter. Norges Bank acquired a new stake in shares of Archer Aviation during the fourth quarter valued at $58,494,000. Man Group plc boosted its stake in shares of Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after acquiring an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after acquiring an additional 4,146,574 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after acquiring an additional 3,869,252 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ACHR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group decreased their price objective on 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 decreased their price objective on 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 analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Stock Down 4.1%

Shares of NYSE:ACHR opened at $5.09 on Friday. The stock’s 50-day moving average price is $5.97 and its two-hundred day moving average price is $6.90. 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 firm has a market cap of $3.86 billion, a price-to-earnings ratio of -4.62 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, research analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other Archer Aviation news, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer owned 189,050 shares in the company, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 246,989 shares of company stock valued at $1,478,902 in the last quarter. Corporate insiders own 7.65% of the company’s stock.

About Archer Aviation

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.