Gerber Kawasaki Wealth & Investment Management Buys New Position in Archer Aviation Inc. (NYSE:ACHR)

Gerber Kawasaki Wealth & Investment Management purchased a new position in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 18,924 shares of the company’s stock, valued at approximately $185,000.

Several other large investors have also added to or reduced their stakes in ACHR. Oxford Asset Management LLP bought a new stake in Archer Aviation during the 4th quarter valued at approximately $201,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $6,985,000. Ghisallo Capital Management LLC boosted its position in shares of Archer Aviation by 170.7% during the fourth quarter. Ghisallo Capital Management LLC now owns 2,706,760 shares of the company’s stock valued at $26,391,000 after purchasing an additional 1,706,760 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Archer Aviation in the fourth quarter worth $99,000. Finally, Science & Technology Partners L.P. bought a new position in Archer Aviation in the fourth quarter worth $3,888,000. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

ACHR has been the topic of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note 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 report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Eric Lentell sold 50,004 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the sale, the general counsel now owns 45,416 shares of the company’s stock, valued at $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,780 shares of company stock valued at $3,158,081. Company insiders own 9.75% of the company’s stock.

Archer Aviation Trading Up 0.4 %

Archer Aviation stock opened at $8.59 on Monday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The business’s fifty day moving average is $7.73 and its 200 day moving average is $7.50. The stock has a market capitalization of $4.66 billion, a PE ratio of -6.51 and a beta of 3.16. 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 (NYSE:ACHR) last announced its quarterly 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. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current 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.