932,223 Shares in Archer Aviation Inc. (NYSE:ACHR) Acquired by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 932,223 shares of the company’s stock, valued at approximately $9,089,000.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in Archer Aviation during the fourth quarter valued at approximately $51,000. Gerber Kawasaki Wealth & Investment Management bought a new stake in shares of Archer Aviation during the 4th quarter worth $185,000. Oxford Asset Management LLP acquired a new position in shares of Archer Aviation in the 4th quarter worth $201,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Archer Aviation during the fourth quarter worth $6,985,000. Finally, Ghisallo Capital Management LLC lifted its holdings in shares of Archer Aviation by 170.7% during the fourth quarter. Ghisallo Capital Management LLC now owns 2,706,760 shares of the company’s stock valued at $26,391,000 after purchasing an additional 1,706,760 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ACHR. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James raised their target price 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 reissued a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $11.61.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 33,335 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Eric Lentell sold 50,004 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the sale, the general counsel now directly owns 45,416 shares in the company, valued at approximately $319,728.64. This represents a 52.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,780 shares of company stock worth $3,158,081. 9.75% of the stock is owned by corporate insiders.

Archer Aviation Stock Up 5.3 %

ACHR stock opened at $8.98 on Wednesday. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a fifty day simple moving average of $7.68 and a 200 day simple moving average of $7.55. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.87 billion, a PE ratio of -6.80 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly 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. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.