21,849 Shares in Archer Aviation Inc. (NYSE:ACHR) Purchased by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,849 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. lifted its stake in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Archer Aviation by 7.4% in the 4th quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock valued at $254,000 after buying an additional 1,800 shares during the period. Amalgamated Bank lifted its position in shares of Archer Aviation by 50.7% during the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after purchasing an additional 2,680 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Trading Down 7.5 %

NYSE ACHR opened at $8.14 on Thursday. 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’s fifty day simple moving average is $8.81 and its 200-day simple moving average is $6.81. The stock has a market cap of $4.41 billion, a P/E ratio of -6.16 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48.

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

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 99,224 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 transaction of $764,024.80. Following the transaction, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at approximately $8,712,111.10. The trade was a 8.06 % decrease 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, General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of the sale, the general counsel now owns 53,225 shares of the company’s stock, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,985 shares of company stock worth $2,555,685 over the last ninety days. 9.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ACHR shares. Needham & Company LLC boosted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Canaccord Genuity Group increased their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

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.