Sanctuary Advisors LLC Purchases New Holdings in Archer Aviation Inc. (NYSE:ACHR)

Sanctuary Advisors LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,494 shares of the company’s stock, valued at approximately $80,000.

A number of other hedge funds have also recently bought and sold shares of ACHR. Barclays PLC raised its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during the last quarter. HBK Investments L P acquired a new position in Archer Aviation during the 3rd quarter valued at about $6,818,000. Benjamin Edwards Inc. boosted its stake in shares of Archer Aviation by 12,656.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after buying an additional 94,430 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of Archer Aviation during the third quarter worth approximately $578,000. 59.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, Director Deborah Diaz acquired 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The shares were purchased at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. Company insiders own 9.75% of the company’s stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $10.06 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $4.28 billion, a price-to-earnings ratio of -7.62 and a beta of 3.19. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $11.69. The stock’s 50-day moving average is $6.37 and its 200-day moving average is $4.61.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results 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 period in the prior year, the company earned ($0.19) EPS. Equities analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on ACHR. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group increased their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.63.

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.