FORA Capital LLC Buys Shares of 46,007 Archer Aviation Inc. (NYSE:ACHR)

FORA Capital LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 46,007 shares of the company’s stock, valued at approximately $449,000.

Several other institutional investors have also made changes to their positions in ACHR. Conquis Financial LLC acquired a new position in Archer Aviation in the 4th quarter valued at approximately $29,000. Harbour Investments Inc. increased 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 acquiring an additional 1,095 shares during the last quarter. Oarsman Capital Inc. raised its holdings in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. Anchor Investment Management LLC grew its stake in Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Up 0.6 %

Archer Aviation stock opened at $8.81 on Friday. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $4.78 billion, a PE ratio of -6.67 and a beta of 3.13. The business’s 50-day simple moving average is $7.74 and its 200-day simple moving average is $7.82.

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

Insider Activity at Archer Aviation

In related news, CFO Mark Mesler sold 34,498 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at approximately $4,641,873.28. This represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 50,000 shares of Archer Aviation stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $8.47, for a total transaction of $423,500.00. Following the sale, the insider now owns 212,673 shares in the company, valued at $1,801,340.31. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock worth $3,581,581 in the last ninety days. 9.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACHR. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target 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.