Strs Ohio Lowers Position in Archer Aviation Inc. (NYSE:ACHR)

Strs Ohio cut its position in shares of Archer Aviation Inc. (NYSE:ACHR – Get Rating) by 56.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 12,500 shares of the company’s stock after selling 16,500 shares during the period. Strs Ohio’s holdings in Archer Aviation were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ACHR. Nisa Investment Advisors LLC bought a new position in Archer Aviation during the 2nd quarter worth approximately $26,000. BBR Partners LLC purchased a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $30,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Archer Aviation in the 1st quarter valued at approximately $50,000. Private Advisor Group LLC purchased a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $33,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $37,000. 41.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark Mesler acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was bought at an average price of $2.63 per share, with a total value of $52,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $52,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Mesler acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was bought at an average price of $2.63 per share, with a total value of $52,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at approximately $52,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Brett Adcock sold 100,000 shares of Archer Aviation stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $2.78, for a total value of $278,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 82,642 shares of company stock valued at $213,098 and sold 1,615,981 shares valued at $3,935,148. 30.67% of the stock is currently owned by corporate insiders.

Archer Aviation Trading Up 1.1 %

Archer Aviation stock opened at $2.81 on Monday. The stock has a fifty day simple moving average of $2.28 and a two-hundred day simple moving average of $2.93. Archer Aviation Inc. has a 12 month low of $1.62 and a 12 month high of $5.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.05 and a quick ratio of 14.05.

Archer Aviation (NYSE:ACHR – Get Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. As a group, analysts expect that Archer Aviation Inc. will post -1.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACHR. Barclays lowered their price objective on Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, November 15th. JPMorgan Chase & Co. reduced their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Archer Aviation Company Profile

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Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.