Teacher Retirement System of Texas Buys 6,581 Shares of Archer Aviation Inc. $ACHR

Teacher Retirement System of Texas lifted its position in Archer Aviation Inc. (NYSE:ACHR) by 12.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,583 shares of the company’s stock after buying an additional 6,581 shares during the quarter. Teacher Retirement System of Texas’ holdings in Archer Aviation were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after acquiring an additional 1,106 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Archer Aviation by 0.7% in the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after purchasing an additional 1,211 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Archer Aviation by 8.7% in the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock worth $121,000 after purchasing an additional 1,358 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares during the last quarter. Finally, CWM LLC boosted its stake in Archer Aviation by 13.6% during the 1st quarter. CWM LLC now owns 12,133 shares of the company’s stock valued at $86,000 after purchasing an additional 1,451 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Tosha Perkins sold 42,775 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider owned 295,337 shares of the company’s stock, valued at $2,903,162.71. The trade was a 12.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ACHR shares. Needham & Company LLC cut their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday. UBS Group restated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.71.

Archer Aviation Trading Down 7.7%

Shares of Archer Aviation stock opened at $8.20 on Friday. Archer Aviation Inc. has a 52-week low of $3.49 and a 52-week high of $14.62. The firm has a market capitalization of $5.29 billion, a PE ratio of -6.50 and a beta of 3.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The company’s fifty day moving average price is $10.29 and its two-hundred day moving average price is $10.24.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.