Yarbrough Capital LLC Has $1.69 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Yarbrough Capital LLC reduced its holdings in Archer Aviation Inc. (NYSE:ACHR) by 61.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,253 shares of the company’s stock after selling 382,165 shares during the period. Yarbrough Capital LLC’s holdings in Archer Aviation were worth $1,687,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EP Wealth Advisors LLC raised its holdings in Archer Aviation by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after purchasing an additional 1,000 shares during the period. Harbour Investments Inc. raised its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the period. Anchor Investment Management LLC raised its holdings in Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. Sanctuary Advisors LLC raised its holdings in Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares during the period. Finally, Xponance Inc. raised its holdings in Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACHR. Canaccord Genuity Group raised their price objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 price objective on shares of Archer Aviation in a report on Friday, May 16th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Raymond James raised their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Archer Aviation Stock Performance

Shares of ACHR opened at $10.17 on Friday. The firm has a 50-day moving average of $8.90 and a 200-day moving average of $8.81. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The company has a market cap of $5.58 billion, a PE ratio of -7.70 and a beta of 3.13. 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 data on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In related news, CFO Priya Gupta sold 13,210 shares of Archer Aviation stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the completion of the sale, the chief financial officer now owns 134,104 shares of the company’s stock, valued at approximately $1,742,010.96. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Mesler sold 34,498 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 $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares of the company’s stock, valued at $4,641,873.28. The trade was a 4.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 451,859 shares of company stock valued at $4,627,418 in the last quarter. Company insiders own 7.65% of the company’s stock.

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.