Sara Bay Financial Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Sara Bay Financial bought a new stake in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,307 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACHR. HBK Investments L P purchased a new stake in Archer Aviation during the 3rd quarter worth $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation during the 3rd quarter worth $3,429,000. Yarbrough Capital LLC acquired a new position in Archer Aviation during the 4th quarter worth $6,039,000. Stifel Financial Corp grew its holdings in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after acquiring an additional 391,092 shares in the last quarter. Finally, Barclays PLC grew its holdings in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Shares of NYSE ACHR traded down $0.30 during midday trading on Friday, reaching $8.80. The company’s stock had a trading volume of 27,394,284 shares, compared to its average volume of 43,078,868. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $8.17 and a 200 day moving average price of $5.21. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -6.66 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) EPS. On average, equities research analysts expect that Archer Aviation Inc. will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACHR. Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Insider Transactions at Archer Aviation

In other Archer Aviation news, Director Deborah Diaz bought 5,150 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by insiders.

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.