AssuredPartners Investment Advisors LLC Invests $86,000 in Archer Aviation Inc. (NYSE:ACHR)

AssuredPartners Investment Advisors LLC acquired a new position in Archer Aviation Inc. (NYSE:ACHR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 12,089 shares of the company’s stock, valued at approximately $86,000.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after acquiring an additional 446,864 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after acquiring an additional 36,840 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares during the period. California State Teachers Retirement System increased its stake in shares of Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock worth $2,354,000 after buying an additional 50,104 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after buying an additional 2,908,859 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Down 7.4%

NYSE:ACHR opened at $9.94 on Thursday. The firm’s 50-day moving average price is $9.86 and its 200-day moving average price is $9.09. The company has a market capitalization of $5.46 billion, a PE ratio of -7.59 and a beta of 3.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.80 and a quick ratio of 15.80. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. On average, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ACHR. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Monday. HC Wainwright reissued a “buy” rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Finally, Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $13.13.

Insider Activity at Archer Aviation

In related news, CFO Mark Mesler sold 34,498 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares of the company’s stock, valued at approximately $4,641,873.28. This represents a 4.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 13,210 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the transaction, the chief financial officer now owns 134,104 shares in the company, valued at $1,742,010.96. This represents a 8.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by insiders.

Archer Aviation 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.