2 weeks Ago By Defense World Staff
Geode Capital Management LLC boosted its holdings in Archer Aviation Inc. (NYSE:ACHR – Free Report) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
The firm owned 5,835,128 shares of the company’s stock after acquiring an additional 724,736 shares during the period. Geode Capital Management LLC owned 1.37% of Archer Aviation worth $56,908,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the business. Harbour Investments Inc. lifted its position in Archer Aviation by 54.
7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter.
GPS Wealth Strategies Group LLC lifted its holdings in Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the last quarter.
US Bancorp DE boosted its stake in Archer Aviation by 2,725.3% in the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock valued at $44,000 after purchasing an additional 4,306 shares during the period.
Newbridge Financial Services Group Inc. acquired a new position in Archer Aviation in the 4th quarter valued at $49,000. Finally, Amalgamated Bank increased its position in Archer Aviation by 50.
7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after buying an additional 2,680 shares during the period. Institutional investors and hedge funds own 59.
34% of the company’s stock. Insider Activity at Archer AviationIn related news, General Counsel Eric Lentell sold 43,230 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.
70, for a total transaction of $332,871.00. Following the sale, the general counsel now owns 53,225 shares in the company, valued at $409,832.
50. The trade was a 44.82 % decrease in their position.
The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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. This represents a 8.99 % decrease in their ownership of the stock.
The disclosure for this sale can be found here. In the last three months, insiders have sold 424,780 shares of company stock valued at $3,158,081. 9.
75% of the stock is owned by insiders. Archer Aviation Trading Up 0.2 %Shares of ACHR stock opened at $7.
04 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.
03 and a current ratio of 6.03. Archer Aviation Inc.
has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.
The company has a market cap of $3.82 billion, a PE ratio of -5.33 and a beta of 3.
16. The stock’s fifty day moving average price is $8.16 and its two-hundred day moving average price is $7.
18. Archer Aviation (NYSE:ACHR – Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.
30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10.
Equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Analysts Set New Price TargetsACHR has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.
50 and gave the company a “buy” rating in a research report on Friday, February 28th. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th.
Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th.
Raymond James increased their price target 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 raised their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th.
Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.
View Our Latest Analysis on ACHRArcher Aviation Profile (Free Report)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.
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