Kaizen Financial Strategies Cuts Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Kaizen Financial Strategies lessened its holdings in Archer Aviation Inc. (NYSE:ACHR) by 33.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 32,854 shares of the company’s stock after selling 16,646 shares during the period. Kaizen Financial Strategies’ holdings in Archer Aviation were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACHR. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after buying an additional 446,864 shares during the period. Private Advisor Group LLC lifted its stake in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after purchasing an additional 36,840 shares during the last quarter. ARK Investment Management LLC boosted its position in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares in the last quarter. Yarbrough Capital LLC purchased a new position in Archer Aviation in the fourth quarter valued at about $6,039,000. Finally, Barclays PLC grew its stake in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, the chief financial officer now owns 630,243 shares of the company’s stock, valued at $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 474,780 shares of company stock worth $3,581,581. Insiders own 9.75% of the company’s stock.

Archer Aviation Stock Up 0.6 %

ACHR stock opened at $8.81 on Friday. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -6.67 and a beta of 3.13. The firm has a 50-day moving average of $7.74 and a two-hundred day moving average of $7.86. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACHR has been the topic of a number of analyst reports. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $11.61.

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.