EAM Investors LLC Buys Shares of 273,506 Archer Aviation Inc. (NYSE:ACHR)

EAM Investors LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 273,506 shares of the company’s stock, valued at approximately $2,667,000. EAM Investors LLC owned 0.06% of Archer Aviation as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Conquis Financial LLC purchased a new stake in Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. boosted its position in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after acquiring an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts 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 Friday, February 28th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC raised their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Trading Down 1.0 %

NYSE ACHR opened at $7.05 on Thursday. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -5.34 and a beta of 3.16. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company’s 50 day moving average price is $8.04 and its 200 day moving average price is $7.21.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the sale, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. The trade was a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, the chief financial officer now directly owns 630,243 shares of the company’s stock, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock valued at $3,158,081 over the last 90 days. 9.75% of the stock is owned by corporate insiders.

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.