Bosun Asset Management LLC Purchases New Holdings in Archer Aviation Inc. (NYSE:ACHR)

Bosun Asset Management LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 96,215 shares of the company’s stock, valued at approximately $938,000.

Several other large investors also recently bought and sold shares of the company. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares in the last quarter. Xponance Inc. boosted its stake in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Archer Aviation by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 24,423 shares of the company’s stock worth $238,000 after buying an additional 1,550 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Monday, April 21st. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 474,780 shares of company stock valued at $3,581,581. Company insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

NYSE:ACHR opened at $8.67 on Tuesday. The company has a market capitalization of $4.70 billion, a P/E ratio of -6.56 and a beta of 3.13. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The stock’s fifty day moving average is $7.71 and its two-hundred day moving average is $7.74.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.