Olympiad Research LP Makes New Investment in Archer Aviation Inc. $ACHR

Olympiad Research LP purchased a new position in Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,857 shares of the company’s stock, valued at approximately $172,000.

A number of other large investors have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas purchased a new stake in shares of Archer Aviation in the first quarter worth $391,000. Principal Financial Group Inc. lifted its holdings in Archer Aviation by 30.2% in the first quarter. Principal Financial Group Inc. now owns 25,531 shares of the company’s stock valued at $182,000 after acquiring an additional 5,916 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Archer Aviation by 19.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,320,950 shares of the company’s stock valued at $9,392,000 after purchasing an additional 215,768 shares during the period. Allworth Financial LP lifted its stake in shares of Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after purchasing an additional 1,664 shares during the period. Finally, Xponance Inc. grew its position in Archer Aviation by 45.9% during the first quarter. Xponance Inc. now owns 24,218 shares of the company’s stock valued at $172,000 after buying an additional 7,618 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the transaction, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. The trade was a 12.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 188,068 shares of company stock valued at $1,848,708 in the last three months. 7.65% of the stock is owned by company insiders.

Archer Aviation Stock Performance

Shares of NYSE:ACHR opened at $7.88 on Friday. The firm has a fifty day simple moving average of $10.27 and a two-hundred day simple moving average of $10.22. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.13 billion, a P/E ratio of -6.25 and a beta of 3.07. Archer Aviation Inc. has a 52 week low of $4.05 and a 52 week high of $14.62.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). On average, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Cantor Fitzgerald set a $13.00 price objective on Archer Aviation in a research note on Monday. Needham & Company LLC lowered their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Canaccord Genuity Group decreased their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.57.

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.