Stablepoint Partners LLC Acquires New Holdings in Archer Aviation Inc. $ACHR

Stablepoint Partners LLC bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 79,499 shares of the company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in shares of Archer Aviation during the first quarter worth $293,000. Integrated Wealth Concepts LLC lifted its holdings in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after buying an additional 59,317 shares during the period. NewEdge Advisors LLC grew its position in shares of Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Up 0.4%

ACHR opened at $8.06 on Wednesday. The company has a fifty day moving average price of $8.16 and a two-hundred day moving average price of $9.44. Archer Aviation Inc. has a 1-year low of $5.48 and a 1-year high of $14.62. The company has a market cap of $5.25 billion, a P/E ratio of -6.40 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the sale, the chief financial officer owned 161,523 shares in the company, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at approximately $10,177,032. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 307,635 shares of company stock worth $2,367,936. 7.65% of the stock is currently owned by insiders.

About Archer Aviation

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.