RFG Advisory LLC Takes Position in Archer Aviation Inc. $ACHR

RFG Advisory LLC bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 76,331 shares of the company’s stock, valued at approximately $731,000.

Several other large investors have also recently bought and sold shares of ACHR. Vestor Capital LLC grew its position in Archer Aviation by 1,014.7% during the second quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock worth $3,024,000 after buying an additional 253,666 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Archer Aviation in the 2nd quarter worth about $2,389,000. Handelsbanken Fonder AB purchased a new position in Archer Aviation during the 2nd quarter valued at about $1,324,000. Voya Investment Management LLC lifted its holdings in shares of Archer Aviation by 180.0% in the third quarter. Voya Investment Management LLC now owns 418,366 shares of the company’s stock valued at $4,008,000 after purchasing an additional 268,955 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Archer Aviation by 8.3% during the 2nd quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company’s stock worth $321,003,000 after purchasing an additional 2,270,471 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Stock Performance

Archer Aviation stock opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The firm’s fifty day moving average price is $8.04 and its 200 day moving average price is $9.09. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.36 and a beta of 3.11. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62.

Insider Activity at Archer Aviation

In other news, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the sale, the chief technology officer owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. The trade was a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 over the last three months. 7.65% of the stock is owned by corporate insiders.

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.