Trexquant Investment LP Takes $6.11 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Trexquant Investment LP purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 626,298 shares of the company’s stock, valued at approximately $6,106,000. Trexquant Investment LP owned approximately 0.15% of Archer Aviation as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in shares of Archer Aviation by 27.1% during the 4th 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. raised its position in Archer Aviation by 21.4% in the fourth 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Archer Aviation by 14.2% in the fourth quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock valued at $56,908,000 after acquiring an additional 724,736 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Archer Aviation by 24.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after purchasing an additional 446,864 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Archer Aviation during the 4th quarter worth $15,912,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares of the company’s stock, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 474,780 shares of company stock worth $3,758,081. 9.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Down 10.7 %

Shares of NYSE:ACHR opened at $6.20 on Friday. The company has a market capitalization of $3.36 billion, a P/E ratio of -4.69 and a beta of 3.14. The stock’s fifty day simple moving average is $8.48 and its 200-day simple moving average is $6.97. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Archer Aviation 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.