Vestmark Advisory Solutions Inc. Invests $3.83 Million in Archer Aviation Inc. (NYSE:ACHR)

Vestmark Advisory Solutions Inc. purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 622,913 shares of the company’s stock, valued at approximately $3,825,000. Vestmark Advisory Solutions Inc. owned about 0.21% of Archer Aviation at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACHR. Victory Capital Management Inc. boosted its position in shares of Archer Aviation by 19.5% during the 3rd quarter. Victory Capital Management Inc. now owns 16,502 shares of the company’s stock worth $84,000 after purchasing an additional 2,688 shares during the period. Rafferty Asset Management LLC boosted its position in shares of Archer Aviation by 7.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 47,832 shares of the company’s stock worth $242,000 after purchasing an additional 3,304 shares during the period. Spire Wealth Management boosted its position in shares of Archer Aviation by 17.6% during the 3rd quarter. Spire Wealth Management now owns 33,695 shares of the company’s stock worth $170,000 after purchasing an additional 5,045 shares during the period. Grove Bank & Trust purchased a new position in shares of Archer Aviation during the 3rd quarter worth approximately $27,000. Finally, Principal Financial Group Inc. boosted its position in shares of Archer Aviation by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 22,561 shares of the company’s stock worth $114,000 after purchasing an additional 6,358 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 750,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $5.19 per share, with a total value of $3,892,500.00. Following the completion of the acquisition, the insider now directly owns 39,351,720 shares in the company, valued at approximately $204,235,426.80. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 3,150,000 shares of company stock valued at $15,724,500 over the last three months. 27.17% of the stock is currently owned by insiders.

Archer Aviation Price Performance

NYSE ACHR traded down $0.05 during trading on Friday, reaching $3.96. The company’s stock had a trading volume of 3,776,480 shares, compared to its average volume of 3,620,449. The business’s fifty day moving average price is $4.41 and its 200-day moving average price is $5.16. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a twelve month low of $1.91 and a twelve month high of $7.49.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share for the quarter, meeting the consensus estimate of ($0.35). On average, research analysts forecast that Archer Aviation Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ACHR. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Archer Aviation currently has an average rating of “Buy” and an average target price of $9.00.

Archer Aviation Company 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.