Archer Aviation Inc. $ACHR Shares Acquired by Odyssean LLC

Odyssean LLC increased its position in Archer Aviation Inc. (NYSE:ACHR) by 707.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 260,940 shares of the company’s stock after buying an additional 228,606 shares during the quarter. Odyssean LLC’s holdings in Archer Aviation were worth $1,234,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ACHR. Norges Bank purchased a new stake in Archer Aviation during the 4th quarter worth $58,494,000. Man Group plc boosted its position in Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after buying an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Archer Aviation by 423.3% in the 4th quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after buying an additional 4,146,574 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after acquiring an additional 3,869,252 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after acquiring an additional 3,293,130 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACHR has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays upgraded Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. UBS Group restated an “overweight” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group cut their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Insider Buying and Selling

In related news, insider Eric Lentell sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the completion of the sale, the insider directly owned 85,011 shares of the company’s stock, valued at $536,419.41. The trade was a 54.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the sale, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 180,411 shares of company stock worth $1,141,141. Corporate insiders own 5.55% of the company’s stock.

Archer Aviation Trading Down 0.7%

NYSE ACHR opened at $5.72 on Friday. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.30 and a beta of 3.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. Archer Aviation Inc. has a 12 month low of $4.30 and a 12 month high of $14.62. The company’s fifty day moving average price is $5.41 and its two-hundred day moving average price is $5.81.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $1.94 million. As a group, research analysts predict that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

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.