FNY Investment Advisers LLC Purchases New Position in Archer Aviation Inc. $ACHR

FNY Investment Advisers LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,882 shares of the company’s stock, valued at approximately $63,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Archer Aviation by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Alpine Global Management LLC lifted its holdings in Archer Aviation by 16.7% during the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock valued at $30,583,000 after purchasing an additional 615,481 shares during the last quarter. Nuveen LLC bought a new position in Archer Aviation during the 1st quarter valued at about $22,423,000. Northern Trust Corp lifted its holdings in Archer Aviation by 32.5% during the 1st quarter. Northern Trust Corp now owns 3,108,457 shares of the company’s stock valued at $22,101,000 after purchasing an additional 762,398 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 36.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company’s stock valued at $22,080,000 after purchasing an additional 827,893 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACHR. UBS Group reissued a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $13.43.

Archer Aviation Trading Up 0.3%

ACHR opened at $10.90 on Friday. The company has a market cap of $7.03 billion, a price-to-earnings ratio of -8.07 and a beta of 3.06. The firm has a 50 day simple moving average of $10.08 and a 200 day simple moving average of $9.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. Archer Aviation Inc. has a fifty-two week low of $3.05 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In related news, insider Eric Lentell sold 48,936 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $481,040.88. Following the completion of the transaction, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 42,775 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the transaction, the insider owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,068 shares of company stock worth $1,848,708 in the last ninety days. Company insiders own 7.65% of the company’s stock.

Archer Aviation Company 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.