DekaBank Deutsche Girozentrale Raises Stake in Archer Aviation Inc. (NYSE:ACHR)

DekaBank Deutsche Girozentrale raised its stake in Archer Aviation Inc. (NYSE:ACHR) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 111,163 shares of the company’s stock after buying an additional 11,163 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Archer Aviation were worth $693,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. ARK Investment Management LLC lifted its stake in shares of Archer Aviation by 4.7% in the 4th quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after purchasing an additional 1,116,908 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Archer Aviation by 6.6% in the 2nd quarter. BlackRock Inc. now owns 12,666,869 shares of the company’s stock valued at $52,188,000 after purchasing an additional 782,452 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Archer Aviation by 54.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company’s stock valued at $59,478,000 after purchasing an additional 4,154,340 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Archer Aviation by 20.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after purchasing an additional 1,394,872 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Archer Aviation by 9.3% in the 3rd quarter. State Street Corp now owns 7,613,771 shares of the company’s stock valued at $19,872,000 after purchasing an additional 649,634 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Price Performance

ACHR opened at $3.90 on Tuesday. The stock’s 50-day moving average price is $4.76 and its 200 day moving average price is $5.28. Archer Aviation Inc. has a 12-month low of $1.77 and a 12-month high of $7.49. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -2.25 and a beta of 2.43.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.45 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $9.60.

Insider Activity

In related news, major shareholder N.V. Stellantis acquired 800,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was acquired at an average price of $4.83 per share, for a total transaction of $3,864,000.00. Following the purchase, the insider now owns 36,251,720 shares of the company’s stock, valued at approximately $175,095,807.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last quarter, insiders purchased 3,150,000 shares of company stock worth $15,724,500. 27.17% of the stock is currently owned by company insiders.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.