SG Americas Securities LLC Has $14.82 Million Stock Position in Archer Aviation Inc. $ACHR

SG Americas Securities LLC boosted its stake in Archer Aviation Inc. (NYSE:ACHR) by 3,316.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,970,717 shares of the company’s stock after acquiring an additional 1,913,035 shares during the period. SG Americas Securities LLC’s holdings in Archer Aviation were worth $14,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio bought a new position in Archer Aviation during the 1st quarter worth approximately $27,000. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the 3rd quarter valued at $29,000. Bank of Jackson Hole Trust increased its position in shares of Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Archer Aviation during the third quarter worth $33,000. Finally, Center for Financial Planning Inc. raised its stake in Archer Aviation by 138.8% during the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock worth $34,000 after buying an additional 2,040 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Down 5.1%

ACHR stock opened at $5.10 on Friday. The stock’s 50 day simple moving average is $6.91 and its 200 day simple moving average is $8.43. The company has a market cap of $3.79 billion, a P/E ratio of -5.15 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. Archer Aviation Inc. has a fifty-two week low of $5.07 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. The firm’s revenue was up 29900.0% on a year-over-year basis. On average, research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ACHR. The Goldman Sachs Group started coverage on shares of Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price on the stock. Needham & Company LLC lowered their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Insider Buying and Selling

In other Archer Aviation news, insider Eric Lentell sold 37,390 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $241,539.40. Following the completion of the sale, the insider owned 139,483 shares in the company, valued at approximately $901,060.18. The trade was a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 380,750 shares of company stock worth $2,645,333 over the last quarter. Corporate insiders own 7.65% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.