Texas Yale Capital Corp. Raises Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Texas Yale Capital Corp. lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 20.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,750 shares of the company’s stock after acquiring an additional 4,750 shares during the quarter. Texas Yale Capital Corp.’s holdings in Archer Aviation were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Conquis Financial LLC bought a new position in shares of Archer Aviation in the 4th quarter valued at about $29,000. Harbour Investments Inc. lifted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the period. GPS Wealth Strategies Group LLC increased its position in shares of Archer Aviation by 708.3% during the 4th 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 during the last quarter. Finally, Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Trading Down 5.9 %

ACHR opened at $7.00 on Friday. The business has a fifty day moving average price of $8.20 and a 200 day moving average price of $7.13. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -5.30 and a beta of 3.16. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. 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 (NYSE:ACHR) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ACHR. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC raised their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average target price of $11.61.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the completion of the transaction, the general counsel now owns 45,416 shares of the company’s stock, valued at approximately $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at approximately $8,712,111.10. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is owned by company insiders.

About Archer Aviation

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.