Main Management ETF Advisors LLC Decreases Stake in Archer Aviation Inc. (NYSE:ACHR)

Main Management ETF Advisors LLC decreased its holdings in Archer Aviation Inc. (NYSE:ACHR) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 176,576 shares of the company’s stock after selling 15,872 shares during the period. Main Management ETF Advisors LLC’s holdings in Archer Aviation were worth $1,722,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ACHR. Nuveen Asset Management LLC boosted its holdings in Archer Aviation by 455.3% in the 4th quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company’s stock worth $31,605,000 after acquiring an additional 2,657,726 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Archer Aviation by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 132,847 shares of the company’s stock valued at $1,295,000 after acquiring an additional 4,748 shares during the last quarter. Moore Capital Management LP grew its holdings in Archer Aviation by 70.0% during the 4th quarter. Moore Capital Management LP now owns 425,000 shares of the company’s stock worth $4,144,000 after acquiring an additional 175,000 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Archer Aviation by 52.5% in the 4th quarter. Janus Henderson Group PLC now owns 114,700 shares of the company’s stock worth $1,118,000 after purchasing an additional 39,500 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in shares of Archer Aviation by 27.9% in the 4th quarter. Hudson Bay Capital Management LP now owns 2,602,510 shares of the company’s stock valued at $25,374,000 after purchasing an additional 567,059 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACHR. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Tuesday. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Buying and Selling

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the transaction, the chief technology officer now directly owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06% 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 in the last quarter. Company insiders own 9.75% of the company’s stock.

Archer Aviation Trading Up 23.0%

Shares of NYSE ACHR opened at $11.17 on Wednesday. The company has a market cap of $6.06 billion, a price-to-earnings ratio of -8.46 and a beta of 3.13. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. 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 stock’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $7.95.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS 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.