Wellington Management Group LLP Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Wellington Management Group LLP bought a new stake in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,631,959 shares of the company’s stock, valued at approximately $15,912,000. Wellington Management Group LLP owned approximately 0.38% of Archer Aviation as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. ARK Investment Management LLC grew its holdings in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. grew its stake in Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Archer Aviation in the 4th quarter worth about $7,249,000. Yarbrough Capital LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth about $6,039,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Aviation by 24.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after buying an additional 446,864 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $6.39 on Wednesday. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -4.84 and a beta of 3.16. The firm’s 50-day moving average price is $8.32 and its two-hundred day moving average price is $7.07. 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 Inc. has a 1-year low of $2.82 and a 1-year high of $12.48.

Archer Aviation (NYSE:ACHR) last posted 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. On average, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the sale, the insider now owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock valued at $3,158,081 in the last 90 days. 9.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACHR. Needham & Company LLC raised their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.