Bryce Point Capital LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,104 shares of the company’s stock, valued at approximately $100,000.
Other institutional investors have also modified their holdings of the company. LPL Financial LLC lifted its position in Archer Aviation by 30.6% during the 1st quarter. LPL Financial LLC now owns 360,964 shares of the company’s stock worth $2,566,000 after acquiring an additional 84,522 shares during the period. Texas Yale Capital Corp. increased its stake in Archer Aviation by 6.1% in the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company’s stock valued at $209,000 after purchasing an additional 1,700 shares in the last quarter. Inspire Advisors LLC purchased a new position in Archer Aviation in the 1st quarter valued at approximately $73,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Archer Aviation by 67.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,136 shares of the company’s stock valued at $755,000 after purchasing an additional 42,661 shares in the last quarter. Finally, Phoenix Financial Ltd. purchased a new position in Archer Aviation in the 1st quarter valued at approximately $71,000. 59.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. UBS Group reissued a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price objective (up previously from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.13.
Archer Aviation Stock Up 2.0%
NYSE:ACHR opened at $11.22 on Monday. The firm has a market capitalization of $6.16 billion, a PE ratio of -8.56 and a beta of 3.10. The stock has a 50 day moving average of $10.72 and a 200-day moving average of $9.29. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $13.92. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07.
Archer Aviation (NYSE:ACHR – Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. Analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.
Insiders Place Their Bets
In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $8.47, for a total value of $423,500.00. Following the completion of the sale, the insider owned 212,673 shares of the company’s stock, valued at $1,801,340.31. This trade represents a 19.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 376,960 shares of company stock worth $4,441,519. 7.65% of the stock is owned by company insiders.
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.
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