Allianz Asset Management GmbH Invests $6.36 Million in Archer Aviation Inc. $ACHR

Allianz Asset Management GmbH acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 663,777 shares of the company’s stock, valued at approximately $6,359,000.

Several other institutional investors have also recently added to or reduced their stakes in ACHR. Jones Financial Companies Lllp boosted its holdings in Archer Aviation by 60.9% in the third quarter. Jones Financial Companies Lllp now owns 104,826 shares of the company’s stock valued at $973,000 after purchasing an additional 39,664 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Archer Aviation by 8.9% during the 3rd quarter. Principal Financial Group Inc. now owns 42,251 shares of the company’s stock worth $405,000 after buying an additional 3,465 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Archer Aviation by 3,207.5% in the 3rd quarter. AlphaQuest LLC now owns 85,202 shares of the company’s stock valued at $816,000 after buying an additional 82,626 shares in the last quarter. Hollencrest Capital Management boosted its holdings in shares of Archer Aviation by 24.8% in the 3rd quarter. Hollencrest Capital Management now owns 29,450 shares of the company’s stock valued at $282,000 after buying an additional 5,850 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in shares of Archer Aviation by 44.5% in the 3rd quarter. AE Wealth Management LLC now owns 15,427 shares of the company’s stock valued at $148,000 after buying an additional 4,753 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE ACHR opened at $7.39 on Tuesday. The firm has a market cap of $4.81 billion, a P/E ratio of -5.87 and a beta of 3.12. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The business’s 50-day moving average price is $8.12 and its 200 day moving average price is $9.15. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In other news, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider directly owned 334,632 shares in the company, valued at $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the transaction, the chief financial officer owned 161,523 shares in the company, valued at $1,209,807.27. The trade was a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 307,635 shares of company stock worth $2,367,936. 7.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ACHR has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Wednesday, January 14th. Canaccord Genuity Group lifted their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, The Goldman Sachs Group initiated coverage on Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.