Seven Grand Managers LLC Invests $22.56 Million in Archer Aviation Inc. $ACHR

Seven Grand Managers LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, HoldingsChannel reports. The firm purchased 3,000,000 shares of the company’s stock, valued at approximately $22,560,000. Archer Aviation accounts for about 1.7% of Seven Grand Managers LLC’s holdings, making the stock its 17th largest holding.

Several other hedge funds also recently modified their holdings of ACHR. AQR Capital Management LLC acquired a new position in Archer Aviation in the 1st quarter valued at $293,000. Integrated Wealth Concepts LLC grew its stake in Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Archer Aviation by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC grew its stake in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Archer Aviation by 51.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Needham & Company LLC lowered their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 91,839 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 10,949 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the completion of the sale, the insider owned 384,768 shares in the company, valued at $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 502,739 shares of company stock worth $3,124,236. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Performance

NYSE ACHR opened at $6.53 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -5.94 and a beta of 3.13. The company’s fifty day moving average is $5.87 and its two-hundred day moving average is $7.05. Archer Aviation Inc. has a 52-week low of $4.80 and a 52-week high of $14.62.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the company earned ($0.17) EPS. Equities research analysts forecast that Archer Aviation Inc. will post -1.51 EPS for the current year.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.