Interchange Capital Partners LLC Acquires 1,972 Shares of Archer Aviation Inc. (NYSE:ACHR)

Interchange Capital Partners LLC raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,494 shares of the company’s stock after acquiring an additional 1,972 shares during the period. Interchange Capital Partners LLC’s holdings in Archer Aviation were worth $258,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ACHR. ARK Investment Management LLC increased its holdings in shares of Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. grew its position in Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after acquiring an additional 2,908,859 shares during the last quarter. Geode Capital Management LLC increased its holdings in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after purchasing an additional 268,896 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after purchasing an additional 446,864 shares during the last quarter. Finally, HBK Investments L P acquired a new stake in shares of Archer Aviation during the third quarter valued at about $6,818,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $8.92 on Tuesday. The business has a 50-day moving average price of $8.81 and a two-hundred day moving average price of $6.76. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.84 billion, a P/E ratio of -6.75 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company’s stock, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the transaction, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 303,985 shares of company stock worth $2,555,685 in the last quarter. 9.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACHR. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.