Tidal Investments LLC Boosts Holdings in Archer Aviation Inc. (NYSE:ACHR)

Tidal Investments LLC raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 29.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,518 shares of the company’s stock after purchasing an additional 3,339 shares during the period. Tidal Investments LLC’s holdings in Archer Aviation were worth $44,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after acquiring an additional 3,033 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Archer Aviation by 14.8% during 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 during the last quarter. DekaBank Deutsche Girozentrale increased its position in Archer Aviation by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in Archer Aviation by 50.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after purchasing an additional 5,000 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Canaccord Genuity Group increased their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 751,879 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $10.80 on Thursday. The business’s fifty day moving average price is $5.76 and its 200 day moving average price is $4.40. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $11.06. 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 stock has a market capitalization of $4.59 billion, a P/E ratio of -8.18 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the business earned ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share 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.