Archer Aviation Inc. $ACHR Shares Acquired by Connective Capital Management LLC

Connective Capital Management LLC boosted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 270.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,311 shares of the company’s stock after buying an additional 98,775 shares during the quarter. Archer Aviation makes up 0.6% of Connective Capital Management LLC’s holdings, making the stock its 17th biggest position. Connective Capital Management LLC’s holdings in Archer Aviation were worth $1,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ACHR. Farther Finance Advisors LLC increased its holdings in Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after acquiring an additional 1,220 shares in the last quarter. Clear Creek Financial Management LLC grew its stake in Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after acquiring an additional 1,254 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Archer Aviation by 8.2% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock valued at $160,000 after purchasing an additional 1,268 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares during the last quarter. Finally, Meridian Investment Counsel Inc. increased its position in Archer Aviation by 3.4% during the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock worth $331,000 after purchasing an additional 1,440 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 48,169 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55. Following the completion of the sale, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares of the company’s stock, valued at $1,124,847.50. This trade represents a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock valued at $1,497,672 over the last ninety days. 5.55% of the stock is currently owned by corporate insiders.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $5.58 on Friday. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The firm has a market capitalization of $4.23 billion, a P/E ratio of -5.07 and a beta of 3.14. The company’s fifty day moving average price is $5.98 and its 200 day moving average price is $6.84.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Canaccord Genuity Group cut their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

About Archer Aviation

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.