DekaBank Deutsche Girozentrale Takes $114,000 Position in Archer Aviation Inc. (NYSE:ACHR)

DekaBank Deutsche Girozentrale purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,315 shares of the company’s stock, valued at approximately $114,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new position in shares of Archer Aviation during the first quarter valued at approximately $5,782,000. Intellectus Partners LLC raised its stake in Archer Aviation by 136.1% in the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after purchasing an additional 523,024 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after purchasing an additional 254,460 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Archer Aviation by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock worth $8,513,000 after buying an additional 228,487 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Archer Aviation by 44.4% in the second quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock valued at $2,201,000 after buying an additional 192,120 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.17% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of recent research reports. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, September 16th. Finally, HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Trading Up 0.3 %

ACHR opened at $3.06 on Friday. The business’s 50 day moving average price is $3.83 and its 200 day moving average price is $3.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market capitalization of $990.09 million, a PE ratio of -1.88 and a beta of 2.32. Archer Aviation Inc. has a one year low of $3.00 and a one year high of $7.01.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.33 EPS for the current year.

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.