Archer Aviation Inc. (NYSE:ACHR) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,090 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Alliancebernstein L.P.’s holdings in Archer Aviation were worth $2,438,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the period. GPS Wealth Strategies Group LLC grew its position in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the period. Tidal Investments LLC increased its holdings in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares in the last quarter. US Bancorp DE raised its position in shares of Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after acquiring an additional 4,306 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Archer Aviation during the 4th quarter worth about $49,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC boosted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Trading Down 1.0 %

Shares of ACHR opened at $7.05 on Thursday. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The stock has a market cap of $3.82 billion, a PE ratio of -5.34 and a beta of 3.16. The firm’s fifty day moving average is $8.04 and its two-hundred day moving average is $7.21. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. The trade was a 11.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Mesler sold 34,498 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the completion of the sale, the chief financial officer now directly owns 659,357 shares of the company’s stock, valued at $4,641,873.28. This represents a 4.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 in the last ninety days. Insiders own 9.75% of the company’s stock.

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.