Vanguard Group Inc. Boosts Holdings in Archer Aviation Inc. $ACHR

Vanguard Group Inc. grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 45.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,363,259 shares of the company’s stock after purchasing an additional 16,452,398 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Archer Aviation worth $501,640,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ACHR. Geode Capital Management LLC increased its stake in Archer Aviation by 44.1% during the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock valued at $130,125,000 after purchasing an additional 3,671,753 shares in the last quarter. Man Group plc grew its position in Archer Aviation by 13,793.3% during the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after purchasing an additional 4,182,400 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Archer Aviation by 435.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company’s stock worth $40,688,000 after buying an additional 3,050,000 shares during the last quarter. Invesco Ltd. boosted its position in Archer Aviation by 466.5% in the 2nd quarter. Invesco Ltd. now owns 3,650,429 shares of the company’s stock worth $39,607,000 after purchasing an additional 3,006,039 shares in the last quarter. Finally, Marex Group plc acquired a new position in shares of Archer Aviation in the 2nd quarter valued at $24,699,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Trading Down 1.2%

ACHR opened at $7.10 on Thursday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of -5.64 and a beta of 3.11. The company’s 50 day simple moving average is $7.81 and its two-hundred day simple moving average is $8.89. Archer Aviation Inc. has a 1-year low of $5.48 and a 1-year high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This trade represents a 8.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.65% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average target price of $12.17.

Archer Aviation Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.