Granahan Investment Management LLC Has $28.17 Million Stock Position in Archer Aviation Inc. $ACHR

Granahan Investment Management LLC reduced its holdings in Archer Aviation Inc. (NYSE:ACHR) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,940,100 shares of the company’s stock after selling 302,520 shares during the period. Archer Aviation makes up about 1.2% of Granahan Investment Management LLC’s investment portfolio, making the stock its 27th largest position. Granahan Investment Management LLC owned about 0.45% of Archer Aviation worth $28,166,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Archer Aviation in the first quarter worth $293,000. Integrated Wealth Concepts LLC increased its position in Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $1,366,000 after purchasing an additional 59,317 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in 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 purchasing an additional 1,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Archer Aviation by 51.1% in the 1st 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 purchasing an additional 285,414 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Down 2.0%

ACHR opened at $6.03 on Monday. Archer Aviation Inc. has a fifty-two week low of $5.48 and a fifty-two week high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The firm’s fifty day moving average price is $7.50 and its two-hundred day moving average price is $8.63. The company has a market capitalization of $3.92 billion, a P/E ratio of -6.09 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The business’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. The Goldman Sachs Group initiated coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 37,390 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $241,539.40. Following the sale, the insider owned 139,483 shares of the company’s stock, valued at $901,060.18. The trade was a 21.14% 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 94,725 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $611,923.50. Following the completion of the transaction, the chief technology officer directly owned 1,345,430 shares of the company’s stock, valued at $8,691,477.80. This trade represents a 6.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 344,899 shares of company stock worth $2,420,548 in the last 90 days. 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.