Moore Capital Management LP Grows Position in Archer Aviation Inc. (NYSE:ACHR)

Moore Capital Management LP lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 70.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 425,000 shares of the company’s stock after purchasing an additional 175,000 shares during the quarter. Moore Capital Management LP owned about 0.10% of Archer Aviation worth $4,144,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. EP Wealth Advisors LLC grew its holdings in shares of Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after purchasing an additional 1,000 shares during the period. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after acquiring an additional 1,246 shares in the last quarter. Finally, Xponance Inc. lifted its stake in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after acquiring an additional 1,299 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACHR. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Up 3.0%

ACHR opened at $9.08 on Tuesday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a market cap of $4.92 billion, a P/E ratio of -6.88 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $7.93.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Tosha Perkins sold 49,273 shares of the firm’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 $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Eric Lentell sold 50,004 shares of the firm’s 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 $352,028.16. Following the transaction, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This represents a 52.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 474,780 shares of company stock worth $3,581,581. 9.75% of the stock is currently owned by insiders.

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.