Quantbot Technologies LP Purchases Shares of 17,097 Archer Aviation Inc. (NYSE:ACHR)

Quantbot Technologies LP acquired a new position in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, Holdings Channel.com reports. The firm acquired 17,097 shares of the company’s stock, valued at approximately $167,000.

Other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. increased its holdings 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 during the period. GPS Wealth Strategies Group LLC grew its holdings in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the last quarter. Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the last quarter. US Bancorp DE grew its holdings in Archer Aviation by 2,725.3% in the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after acquiring an additional 4,306 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Archer Aviation by 50.0% during the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after acquiring an additional 5,000 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Down 7.6 %

Shares of NYSE:ACHR opened at $7.26 on Monday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. The stock has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $6.89. 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 (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 49,273 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 $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 303,985 shares of company stock valued at $2,555,685 over the last ninety days. 9.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ACHR shares. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Needham & Company LLC upped their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.