Harbor Capital Advisors Inc. Invests $1.44 Million in Archer Aviation Inc. (NYSE:ACHR)

Harbor Capital Advisors Inc. bought a new stake in Archer Aviation Inc. (NYSE:ACHR) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 202,127 shares of the company’s stock, valued at approximately $1,437,000.

Other hedge funds have also added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its holdings in shares of Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after buying an additional 1,000 shares in the last quarter. Harbour Investments Inc. increased its position in 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 in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In related news, CFO Priya Gupta sold 13,210 shares of Archer Aviation stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $171,597.90. Following the transaction, the chief financial officer now directly owns 134,104 shares of the company’s stock, valued at $1,742,010.96. The trade was a 8.97% 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. 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 transaction, the chief financial officer now directly owns 659,357 shares of the company’s stock, valued at approximately $4,641,873.28. This trade represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 451,859 shares of company stock valued at $4,627,418 in the last quarter. Insiders own 7.65% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $11.74 on Friday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The business has a fifty day moving average price of $9.29 and a 200-day moving average price of $8.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market capitalization of $6.45 billion, a P/E ratio of -8.89 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ACHR shares. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Archer Aviation in a research report on Friday, May 16th. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price target (up from $12.00) on shares of Archer Aviation in a report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.19.

Archer Aviation 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.