HBK Investments L P Has $3.07 Million Holdings in Archer Aviation Inc. $ACHR

HBK Investments L P lessened its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 35.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 650,000 shares of the company’s stock after selling 350,000 shares during the period. HBK Investments L P owned 0.08% of Archer Aviation worth $3,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ACHR. Geode Capital Management LLC grew its holdings in Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after acquiring an additional 1,867,648 shares during the period. Amova Asset Management Americas Inc. lifted its stake in shares of Archer Aviation by 21.7% in the 4th quarter. Amova Asset Management Americas Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after purchasing an additional 1,413,774 shares during the period. Norges Bank bought a new stake in Archer Aviation in the fourth quarter worth approximately $58,494,000. BNP Paribas Financial Markets lifted its stake in Archer Aviation by 423.3% in the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after buying an additional 4,146,574 shares during the period. Finally, Alpine Global Management LLC lifted its stake in Archer Aviation by 104.7% in the fourth quarter. Alpine Global Management LLC now owns 4,677,145 shares of the company’s stock valued at $35,172,000 after buying an additional 2,392,026 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Down 4.7%

NYSE:ACHR traded down $0.26 on Wednesday, hitting $5.21. The stock had a trading volume of 27,904,329 shares, compared to its average volume of 36,899,988. The business’s fifty day moving average is $5.50 and its 200 day moving average is $5.73. The company has a market cap of $4.02 billion, a PE ratio of -4.83 and a beta of 3.23. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a 52 week low of $4.30 and a 52 week high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to analyst estimates of $1.94 million. On average, equities research analysts expect that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the transaction, the insider owned 85,011 shares in the company, valued at approximately $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $88,970.80. Following the completion of the transaction, the chief accounting officer directly owned 110,847 shares in the company, valued at $710,529.27. This trade represents a 11.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 176,657 shares of company stock valued at $1,122,371. 5.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ACHR has been the subject of several recent analyst reports. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Barclays raised shares of Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.50.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to transport passengers over short distances using distributed electric propulsion, with the goal of providing quieter and potentially faster alternatives to traditional ground transportation in congested urban areas.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft intended for commercial air taxi operations.