Sargent Investment Group LLC Acquires 49,900 Shares of Archer Aviation Inc. (NYSE:ACHR)

Sargent Investment Group LLC increased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 21.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 288,030 shares of the company’s stock after buying an additional 49,900 shares during the quarter. Sargent Investment Group LLC owned 0.07% of Archer Aviation worth $2,808,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ACHR. HBK Investments L P acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation in the third quarter worth $3,429,000. Yarbrough Capital LLC acquired a new stake in Archer Aviation in the fourth quarter valued at $6,039,000. Stifel Financial Corp raised its position in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 1,170,360 shares of the company’s stock, valued at $8,883,032.40. The trade was a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. Finally, Canaccord Genuity Group lifted their price objective on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $9.19 on Wednesday. The business has a 50-day simple moving average of $9.16 and a 200 day simple moving average of $5.62. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of -6.96 and a beta of 3.14. 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 one year low of $2.82 and a one year high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. On average, research analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Archer Aviation Company 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.