Newbridge Financial Services Group Inc. Reduces Holdings in Archer Aviation Inc. (NYSE:ACHR)

Newbridge Financial Services Group Inc. lowered its position in shares of Archer Aviation Inc. (NYSE:ACHRFree Report) by 35.6% during the fourth quarter, HoldingsChannel reports. The firm owned 14,500 shares of the company’s stock after selling 8,000 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Archer Aviation were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Archer Aviation by 19.5% in the third quarter. Victory Capital Management Inc. now owns 16,502 shares of the company’s stock worth $84,000 after buying an additional 2,688 shares during the last quarter. Barclays PLC increased its stake in shares of Archer Aviation by 66.4% in the third quarter. Barclays PLC now owns 50,559 shares of the company’s stock worth $256,000 after buying an additional 20,173 shares during the last quarter. Swiss National Bank bought a new stake in shares of Archer Aviation in the third quarter worth $1,439,000. Atria Wealth Solutions Inc. bought a new stake in shares of Archer Aviation in the third quarter worth $194,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Archer Aviation in the third quarter worth $52,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday. Barclays decreased their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Check Out Our Latest Research Report on ACHR

Archer Aviation Trading Down 1.6 %

Shares of ACHR traded down $0.05 during midday trading on Tuesday, hitting $3.12. 1,123,882 shares of the stock traded hands, compared to its average volume of 5,111,586. Archer Aviation Inc. has a 1-year low of $3.00 and a 1-year high of $7.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. The business’s 50 day moving average price is $3.66 and its two-hundred day moving average price is $4.73.

Archer Aviation (NYSE:ACHRGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same quarter in the prior year, the business earned ($0.46) EPS. Analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Archer Aviation Company 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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Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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