Centiva Capital LP Boosts Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Centiva Capital LP raised its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 1,064.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,941 shares of the company’s stock after buying an additional 276,022 shares during the period. Centiva Capital LP owned about 0.07% of Archer Aviation worth $2,944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its position in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the period. Tidal Investments LLC raised its position in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after purchasing an additional 3,339 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Archer Aviation during the fourth quarter valued at $157,000. Avondale Wealth Management acquired a new stake in Archer Aviation during the fourth quarter valued at approximately $127,000. Finally, Salem Investment Counselors Inc. lifted its stake in Archer Aviation by 83.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 11,000 shares of the company’s stock valued at $107,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mesler sold 34,498 shares of Archer Aviation stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares in the company, valued at $4,641,873.28. This trade represents a 4.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 474,780 shares of company stock valued at $3,581,581 over the last quarter. Corporate insiders own 9.75% of the company’s stock.

Analyst Upgrades and Downgrades

ACHR has been the subject of several analyst reports. Raymond James lifted their price target on shares of 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 objective 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. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a research report on Monday, April 21st. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Price Performance

Archer Aviation stock opened at $8.67 on Tuesday. The firm’s fifty day moving average is $7.71 and its 200 day moving average is $7.74. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -6.56 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

About Archer Aviation

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.