Archer Aviation Inc. (NYSE:ACHR) Stock Holdings Increased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 29.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,852 shares of the company’s stock after purchasing an additional 70,575 shares during the period. Rhumbline Advisers owned approximately 0.10% of Archer Aviation worth $1,098,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ACHR. CWM LLC increased its holdings in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Archer Aviation by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after acquiring an additional 5,611 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after purchasing an additional 8,246 shares during the period. Interchange Capital Partners LLC lifted its holdings in shares of Archer Aviation by 48.7% during the first quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after purchasing an additional 8,361 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Archer Aviation by 2.3% in the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after purchasing an additional 8,500 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on ACHR shares. Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a report on Monday, September 16th. HC Wainwright assumed coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The purchase was disclosed in a document filed with the SEC, which is available through this link. 27.17% of the stock is owned by corporate insiders.

Archer Aviation Stock Up 0.3 %

ACHR stock opened at $3.06 on Monday. The company has a 50 day moving average of $3.83 and a two-hundred day moving average of $3.92. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. Archer Aviation Inc. has a 12-month low of $3.00 and a 12-month high of $7.01. The company has a market cap of $990.09 million, a price-to-earnings ratio of -1.88 and a beta of 2.32.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

About Archer Aviation

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.