Vestmark Advisory Solutions Inc. Has $3.58 Million Stock Holdings in Archer Aviation Inc. $ACHR

Vestmark Advisory Solutions Inc. trimmed its position in Archer Aviation Inc. (NYSE:ACHR) by 58.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,228 shares of the company’s stock after selling 514,422 shares during the period. Vestmark Advisory Solutions Inc. owned approximately 0.06% of Archer Aviation worth $3,576,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Archer Aviation during the first quarter valued at approximately $27,000. AlphaQuest LLC grew its position in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the period. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the 3rd quarter valued at $29,000. Bank of Jackson Hole Trust raised its holdings in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Archer Aviation during the third quarter worth $33,000. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACHR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.17.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Trading Up 0.4%

Shares of ACHR stock opened at $6.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -5.52 and a beta of 3.12. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The company has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $8.92.

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.