Swiss National Bank Purchases 121,800 Shares of Archer Aviation Inc. (NYSE:ACHR)

Swiss National Bank increased its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 31.2% during the 4th quarter, Holdings Channel reports. The firm owned 511,700 shares of the company’s stock after acquiring an additional 121,800 shares during the period. Swiss National Bank’s holdings in Archer Aviation were worth $4,989,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ACHR. Intech Investment Management LLC purchased a new position in shares of Archer Aviation in the third quarter valued at about $206,000. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Townsquare Capital LLC boosted its stake in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the period. CreativeOne Wealth LLC grew its holdings in Archer Aviation by 99.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock valued at $292,000 after buying an additional 47,975 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Archer Aviation by 15.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock valued at $186,000 after buying an additional 8,431 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Buying and Selling at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,985 shares of company stock valued at $2,555,685 in the last three months. Company insiders own 9.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ACHR. Needham & Company LLC increased 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. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Price Performance

Shares of ACHR stock opened at $8.92 on Tuesday. The stock has a 50 day moving average price of $8.81 and a 200 day moving average price of $6.76. The firm has a market capitalization of $4.84 billion, a P/E ratio of -6.75 and a beta of 3.14. 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 52-week low of $2.82 and a 52-week high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share 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.