Granahan Investment Management LLC Sells 1,226,930 Shares of Archer Aviation Inc. $ACHR

Granahan Investment Management LLC decreased its holdings in Archer Aviation Inc. (NYSE:ACHRFree Report) by 41.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,713,170 shares of the company’s stock after selling 1,226,930 shares during the period. Granahan Investment Management LLC owned about 0.26% of Archer Aviation worth $12,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ACHR. Gould Capital LLC increased its position in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares in the last quarter. Strs Ohio acquired a new position in shares of Archer Aviation during the first quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after purchasing an additional 3,335 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth $29,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth $32,000. Institutional investors own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer directly owned 189,050 shares in the company, valued at approximately $1,124,847.50. The trade was a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock valued at $1,497,672 in the last quarter. Insiders own 5.55% of the company’s stock.

Archer Aviation Price Performance

NYSE ACHR opened at $5.44 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The stock’s fifty day moving average price is $5.98 and its 200 day moving average price is $6.87. Archer Aviation Inc. has a 1 year low of $4.80 and a 1 year high of $14.62. The company has a market cap of $4.13 billion, a price-to-earnings ratio of -4.94 and a beta of 3.14.

Archer Aviation (NYSE:ACHRGet Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ACHR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Canaccord Genuity Group reduced their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Check Out Our Latest Stock Analysis on ACHR

Archer Aviation News Summary

Here are the key news stories impacting Archer Aviation this week:

About Archer Aviation

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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