Dimensional Fund Advisors LP Has $1.23 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Dimensional Fund Advisors LP cut its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 23.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 349,687 shares of the company’s stock after selling 107,211 shares during the quarter. Dimensional Fund Advisors LP owned about 0.11% of Archer Aviation worth $1,231,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Quadrature Capital Ltd bought a new stake in Archer Aviation in the 4th quarter valued at $578,000. HighPoint Advisor Group LLC bought a new stake in Archer Aviation in the 4th quarter valued at $75,000. Hennion & Walsh Asset Management Inc. boosted its stake in Archer Aviation by 196.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock valued at $151,000 after purchasing an additional 21,662 shares during the period. Janney Montgomery Scott LLC boosted its stake in Archer Aviation by 266.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock valued at $191,000 after purchasing an additional 30,075 shares during the period. Finally, Swiss National Bank boosted its stake in 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ACHR shares. HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Archer Aviation Price Performance

Shares of ACHR opened at $3.08 on Friday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $7.01. The business has a 50-day simple moving average of $3.36 and a two-hundred day simple moving average of $3.73. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.10 billion, a PE ratio of -2.52 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. Analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.80% of the company’s stock.

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.