Ethic Inc. Boosts Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Ethic Inc. boosted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,582 shares of the company’s stock after acquiring an additional 2,282 shares during the quarter. Ethic Inc.’s holdings in Archer Aviation were worth $191,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Conquis Financial LLC bought a new stake in Archer Aviation during the 4th quarter valued at $29,000. Harbour Investments Inc. raised its position in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares in the last quarter. Oarsman Capital Inc. raised its position in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Anchor Investment Management LLC raised its position in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position 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 valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 8.9%

Shares of NYSE:ACHR opened at $13.27 on Monday. The business’s 50-day moving average is $8.16 and its 200 day moving average is $8.18. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $13.92. The firm has a market capitalization of $7.20 billion, a P/E ratio of -10.05 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ACHR shares. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. Raymond James boosted 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. Canaccord Genuity Group boosted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Friday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. The trade was a 8.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 33,335 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were 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 in the company, 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 705,844 shares of company stock valued at $6,583,103 in the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Archer Aviation 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.