ProShare Advisors LLC Boosts Stock Position in Archer Aviation Inc. $ACHR

ProShare Advisors LLC lifted its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 60.0% in the second quarter, HoldingsChannel reports. The fund owned 111,826 shares of the company’s stock after acquiring an additional 41,913 shares during the period. ProShare Advisors LLC’s holdings in Archer Aviation were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC bought a new stake in shares of Archer Aviation during the 2nd quarter valued at $465,000. New York State Common Retirement Fund boosted its holdings in Archer Aviation by 47.6% in the 1st quarter. New York State Common Retirement Fund now owns 100,087 shares of the company’s stock worth $712,000 after buying an additional 32,300 shares during the period. Private Advisor Group LLC increased its stake in Archer Aviation by 429.6% in the 1st quarter. Private Advisor Group LLC now owns 272,072 shares of the company’s stock worth $1,934,000 after buying an additional 220,696 shares in the last quarter. Virtu Financial LLC raised its holdings in Archer Aviation by 704.2% during the first quarter. Virtu Financial LLC now owns 359,555 shares of the company’s stock valued at $2,556,000 after acquiring an additional 314,844 shares during the period. Finally, Swiss National Bank raised its holdings in Archer Aviation by 42.4% during the first quarter. Swiss National Bank now owns 728,900 shares of the company’s stock valued at $5,182,000 after acquiring an additional 217,200 shares during the period. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ACHR shares. Cantor Fitzgerald set a $13.00 price objective on Archer Aviation in a research note on Monday, November 10th. JPMorgan Chase & Co. lowered their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Needham & Company LLC lowered their target price on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Archer Aviation Price Performance

NYSE:ACHR opened at $7.88 on Monday. The business’s 50-day moving average is $10.27 and its 200 day moving average is $10.25. Archer Aviation Inc. has a 12 month low of $4.05 and a 12 month high of $14.62. The company has a market capitalization of $5.13 billion, a P/E ratio of -6.25 and a beta of 3.07. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05.

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

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.