Dark Forest Capital Management LP Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Dark Forest Capital Management LP acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,967 shares of the company’s stock, valued at approximately $136,000.

Several other institutional investors have also added to or reduced their stakes in ACHR. ARK Investment Management LLC raised its stake in shares of Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the period. Renaissance Technologies LLC acquired a new stake in Archer Aviation in the 4th quarter valued at approximately $42,709,000. Vanguard Group Inc. lifted its stake in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. Wellington Management Group LLP acquired a new position in Archer Aviation during the 4th quarter worth approximately $15,912,000. Finally, Headlands Technologies LLC bought a new position in shares of Archer Aviation during the 4th quarter worth approximately $11,025,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Trading Up 5.3 %

Shares of Archer Aviation stock opened at $8.98 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $7.55. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -6.80 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last announced 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. Research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Monday, April 21st. Finally, Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 99,224 shares of the company’s stock in a transaction dated 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 directly owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is owned by insiders.

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.