SG Americas Securities LLC Sells 1,585,596 Shares of Archer Aviation Inc. $ACHR

SG Americas Securities LLC decreased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 80.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 385,121 shares of the company’s stock after selling 1,585,596 shares during the period. SG Americas Securities LLC’s holdings in Archer Aviation were worth $1,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC purchased a new position in Archer Aviation during the 1st quarter worth $293,000. Integrated Wealth Concepts LLC lifted its position in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after purchasing an additional 59,317 shares during the last quarter. NewEdge Advisors LLC grew its position in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after purchasing an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Archer Aviation by 51.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,169 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the completion of the transaction, the insider owned 141,084 shares in the company, valued at $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $73,863.30. Following the completion of the transaction, the chief accounting officer owned 87,210 shares of the company’s stock, valued at $518,899.50. The trade was a 12.46% decrease in their position. 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 250,743 shares of company stock valued at $1,497,672 in the last three months. 5.55% of the stock is owned by company insiders.

Archer Aviation Price Performance

Archer Aviation stock opened at $4.93 on Thursday. Archer Aviation Inc. has a 12 month low of $4.61 and a 12 month high of $14.62. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $5.85 and its 200 day simple moving average is $6.63. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -4.49 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the previous year, the firm posted ($0.17) EPS. Sell-side analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

ACHR has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Company 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.