Archer Aviation Inc. $ACHR Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in Archer Aviation Inc. (NYSE:ACHR) by 4,133.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,868 shares of the company’s stock after acquiring an additional 139,493 shares during the period. Fifth Third Bancorp’s holdings in Archer Aviation were worth $739,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Strs Ohio purchased a new position in Archer Aviation in the first quarter valued at $27,000. Gould Capital LLC increased its holdings in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the period. Caitong International Asset Management Co. Ltd raised its position in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares in the last quarter. Modus Advisors LLC acquired a new stake in Archer Aviation in the 4th quarter valued at about $29,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 9,860 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $73,863.30. Following the sale, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This represents a 12.46% decrease in their position. 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. Over the last quarter, insiders have sold 250,743 shares of company stock worth $1,497,672. 5.55% of the stock is owned by corporate insiders.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $4.96 on Tuesday. The stock’s 50-day moving average is $5.43 and its two-hundred day moving average is $6.23. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -4.50 and a beta of 3.19. Archer Aviation Inc. has a 1 year low of $4.30 and a 1 year high of $14.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Hold” and a consensus price target of $11.83.

Archer Aviation 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.