ARK Investment Management LLC Has $152.93 Million Holdings in Archer Aviation Inc. (NYSE:ACHR)

ARK Investment Management LLC raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,907,280 shares of the company’s stock after buying an additional 1,116,908 shares during the quarter. Archer Aviation accounts for 0.9% of ARK Investment Management LLC’s investment portfolio, making the stock its 28th largest holding. ARK Investment Management LLC owned about 8.28% of Archer Aviation worth $152,931,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Archer Aviation in the third quarter valued at approximately $1,596,000. Jump Financial LLC acquired a new position in shares of Archer Aviation during the third quarter worth approximately $1,170,000. Citigroup Inc. raised its position in shares of Archer Aviation by 24.3% during the third quarter. Citigroup Inc. now owns 186,475 shares of the company’s stock worth $944,000 after purchasing an additional 36,509 shares during the period. Bank of New York Mellon Corp raised its position in shares of Archer Aviation by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 534,202 shares of the company’s stock worth $2,201,000 after purchasing an additional 73,002 shares during the period. Finally, Barclays PLC raised its position in Archer Aviation by 66.4% in the 3rd quarter. Barclays PLC now owns 50,559 shares of the company’s stock valued at $256,000 after buying an additional 20,173 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 750,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $5.19 per share, for a total transaction of $3,892,500.00. Following the purchase, the insider now directly owns 39,351,720 shares in the company, valued at $204,235,426.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Archer Aviation news, major shareholder Marc E. Lore sold 160,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $5.90, for a total value of $944,000.00. Following the sale, the insider now owns 27,926,358 shares of the company’s stock, valued at approximately $164,765,512.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder N.V. Stellantis purchased 750,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $5.19 per share, for a total transaction of $3,892,500.00. Following the acquisition, the insider now owns 39,351,720 shares in the company, valued at $204,235,426.80. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,150,000 shares of company stock worth $15,724,500. 27.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Buy” and a consensus price target of $9.60.

Archer Aviation Stock Down 1.3 %

Shares of NYSE:ACHR opened at $4.73 on Thursday. The company has a market capitalization of $1.47 billion, a PE ratio of -2.73 and a beta of 2.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. The business has a fifty day moving average price of $4.95 and a two-hundred day moving average price of $5.42. Archer Aviation Inc. has a 1 year low of $1.77 and a 1 year high of $7.49.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.35). Analysts forecast that Archer Aviation Inc. will post -1.45 earnings per share for the current year.

Archer Aviation Profile

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in San Jose, California.