MetLife Investment Management LLC Acquires 20,667 Shares of Archer Aviation Inc. (NYSE:ACHR)

MetLife Investment Management LLC boosted its holdings in Archer Aviation Inc. (NYSE:ACHR – Get Rating) by 30.0% during the third quarter, HoldingsChannel.com reports. The fund owned 89,508 shares of the company’s stock after purchasing an additional 20,667 shares during the period. MetLife Investment Management LLC’s holdings in Archer Aviation were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BBR Partners LLC increased its stake in Archer Aviation by 884.2% in the third quarter. BBR Partners LLC now owns 100,000 shares of the company’s stock valued at $261,000 after acquiring an additional 89,839 shares during the period. Tower Research Capital LLC TRC increased its stake in Archer Aviation by 182.5% in the third quarter. Tower Research Capital LLC TRC now owns 12,946 shares of the company’s stock valued at $34,000 after acquiring an additional 8,364 shares during the period. Quantbot Technologies LP grew its stake in Archer Aviation by 1,114.0% during the third quarter. Quantbot Technologies LP now owns 11,824 shares of the company’s stock worth $30,000 after buying an additional 10,850 shares during the last quarter. SG Americas Securities LLC bought a new stake in Archer Aviation during the third quarter worth about $260,000. Finally, SkyOak Wealth LLC bought a new stake in Archer Aviation during the third quarter worth about $31,000. Institutional investors own 41.51% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Mark Mesler purchased 20,000 shares of the firm’s stock in a transaction dated Friday, January 13th. The shares were acquired at an average cost of $2.63 per share, with a total value of $52,600.00. Following the completion of the purchase, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $52,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Mesler purchased 20,000 shares of the firm’s stock in a transaction dated Friday, January 13th. The shares were acquired at an average cost of $2.63 per share, with a total value of $52,600.00. Following the completion of the purchase, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $52,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam D. Goldstein purchased 39,526 shares of the firm’s stock in a transaction dated Thursday, January 12th. The shares were bought at an average cost of $2.54 per share, for a total transaction of $100,396.04. Following the completion of the purchase, the chief executive officer now directly owns 139,526 shares of the company’s stock, valued at $354,396.04. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 82,642 shares of company stock valued at $213,098 and have sold 1,622,584 shares valued at $4,029,675. Insiders own 30.67% of the company’s stock.

Archer Aviation Stock Up 6.6 %

Shares of Archer Aviation stock opened at $3.09 on Friday. The company has a quick ratio of 14.05, a current ratio of 14.05 and a debt-to-equity ratio of 0.02. Archer Aviation Inc. has a 1-year low of $1.62 and a 1-year high of $5.24. The firm’s 50-day moving average price is $2.58 and its two-hundred day moving average price is $2.72.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price objective on shares of Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, November 15th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Archer Aviation Profile

(Get Rating)

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.