Archer Aviation Inc. (NYSE:ACHR) Stock Holdings Boosted by ARK Investment Management LLC

ARK Investment Management LLC increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 27.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,912,089 shares of the company’s stock after buying an additional 6,371,647 shares during the quarter. Archer Aviation comprises about 2.4% of ARK Investment Management LLC’s holdings, making the stock its 10th largest position. ARK Investment Management LLC owned approximately 7.03% of Archer Aviation worth $291,643,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares in the last quarter. HBK Investments L P purchased a new stake in Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. boosted its holdings in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Sora Investors LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at approximately $3,429,000. Finally, Intellectus Partners LLC boosted its holdings in Archer Aviation by 1.3% in the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock valued at $2,790,000 after purchasing an additional 11,800 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 7.0 %

Shares of Archer Aviation stock opened at $7.77 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a market capitalization of $3.30 billion, a P/E ratio of -5.88 and a beta of 3.14. The business has a 50 day moving average price of $9.63 and a 200 day moving average price of $6.18.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group reduced their price target on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded 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 research report on Friday, January 10th. Finally, Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the transaction, the chief technology officer now directly owns 1,170,360 shares in the company, valued at $8,883,032.40. The trade was a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Eric Lentell sold 114,788 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total value of $773,671.12. The disclosure for this sale can be found here. Insiders sold 1,057,729 shares of company stock worth $8,473,770 in the last ninety days. Insiders own 9.75% of the company’s stock.

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.