Victory Capital Management Inc. Has $350,000 Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Victory Capital Management Inc. grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 28.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,862 shares of the company’s stock after purchasing an additional 7,951 shares during the quarter. Victory Capital Management Inc.’s holdings in Archer Aviation were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ACHR. Sanctuary Advisors LLC boosted its position in Archer Aviation by 4.7% during the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares during the period. Amalgamated Bank lifted its stake in shares of Archer Aviation by 50.7% in the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after buying an additional 2,680 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares during the period. Townsquare Capital LLC grew its stake in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares during the last quarter. Finally, PFG Investments LLC raised its holdings in Archer Aviation by 16.3% in the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock worth $223,000 after acquiring an additional 3,192 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC upped their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Raymond James raised their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $8.72 on Friday. The firm has a market capitalization of $4.73 billion, a PE ratio of -6.60 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The business’s 50 day moving average is $8.80 and its 200-day moving average is $6.69.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 303,985 shares of company stock worth $2,555,685. Corporate insiders own 9.75% 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.