EMC Capital Management Grows Stock Holdings in Archer Aviation Inc. $ACHR

EMC Capital Management boosted its stake in Archer Aviation Inc. (NYSE:ACHR) by 300.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the company’s stock after acquiring an additional 7,500 shares during the period. EMC Capital Management’s holdings in Archer Aviation were worth $109,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio acquired a new position in shares of Archer Aviation in the first quarter valued at approximately $27,000. Tidemark LLC lifted its holdings in shares of Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the period. AlphaQuest LLC grew its position in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after buying an additional 2,375 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Archer Aviation in the 1st quarter valued at $31,000. Finally, GAMMA Investing LLC increased its stake in Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after buying an additional 2,024 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Trading Down 1.9%

Shares of ACHR opened at $7.46 on Thursday. Archer Aviation Inc. has a twelve month low of $4.88 and a twelve month high of $14.62. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.86 billion, a P/E ratio of -5.92 and a beta of 3.07. The firm’s 50-day moving average is $10.22 and its two-hundred day moving average is $10.21.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). On average, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 90,648 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the sale, the chief technology officer owned 1,397,129 shares of the company’s stock, valued at approximately $10,464,496.21. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 182,635 shares of company stock valued at $1,367,936 in the last three months. 7.65% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ACHR. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Cantor Fitzgerald set a $13.00 target price on Archer Aviation in a research report on Monday, November 10th. Canaccord Genuity Group cut their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Needham & Company LLC decreased their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.57.

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.