BNP Paribas Financial Markets Has $38.55 Million Stock Position in Archer Aviation Inc. $ACHR

BNP Paribas Financial Markets increased its stake in Archer Aviation Inc. (NYSE:ACHR) by 423.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,126,217 shares of the company’s stock after acquiring an additional 4,146,574 shares during the quarter. BNP Paribas Financial Markets’ holdings in Archer Aviation were worth $38,549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACHR. Strs Ohio acquired a new position in shares of Archer Aviation in the first quarter worth approximately $27,000. Johnson Investment Counsel Inc. acquired a new position in shares of Archer Aviation in the third quarter worth approximately $29,000. Basepoint Wealth LLC acquired a new position in shares of Archer Aviation in the fourth quarter worth approximately $32,000. Center for Financial Planning Inc. lifted its stake 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 worth $34,000 after acquiring an additional 2,040 shares during the period. Finally, Danske Bank A S lifted its stake 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 worth $34,000 after acquiring an additional 2,900 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities 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 cut 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 lowered their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.83.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 9,860 shares of Archer Aviation stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 189,050 shares in the company, valued at approximately $1,124,847.50. The trade was a 4.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the completion of the sale, the insider owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. The trade was a 25.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 282,840 shares of company stock valued at $1,703,688 in the last 90 days. Company insiders own 7.65% of the company’s stock.

Archer Aviation Trading Down 3.2%

Shares of ACHR stock opened at $6.53 on Thursday. The company has a market cap of $4.96 billion, a P/E ratio of -5.93 and a beta of 3.14. The stock has a 50 day simple moving average of $5.94 and a two-hundred day simple moving average of $6.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. Archer Aviation Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its earnings results 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 business had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the firm posted ($0.17) EPS. Research analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

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.