Archer Aviation Inc. (NYSE:ACHR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Archer Aviation Inc. (NYSE:ACHR) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,061 shares of the company’s stock after selling 3,809 shares during the period. The Manufacturers Life Insurance Company’s holdings in Archer Aviation were worth $355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Hollencrest Capital Management boosted its stake in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after acquiring an additional 3,341 shares in the last quarter. CWM LLC boosted its stake in 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 acquiring an additional 3,559 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock valued at $115,000 after buying an additional 4,505 shares during the last quarter. Finally, PFG Investments LLC raised its holdings in shares of Archer Aviation by 36.0% in the third quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock valued at $59,000 after buying an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $8.39 on Monday. The company’s fifty day simple moving average is $4.89 and its 200-day simple moving average is $4.10. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $9.84. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.57 billion, a PE ratio of -6.36 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) EPS. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the sale, the chief technology officer now owns 1,170,360 shares in the company, valued at approximately $8,883,032.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright began coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

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.