SBI Securities Co. Ltd. Purchases New Stake in Archer Aviation Inc. (NYSE:ACHR)

SBI Securities Co. Ltd. purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, HoldingsChannel reports. The fund purchased 27,057 shares of the company’s stock, valued at approximately $264,000.

Other hedge funds have also bought and sold shares of the company. ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Geode Capital Management LLC lifted its stake in Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P bought a new position in Archer Aviation during the 3rd quarter valued at $6,818,000. Charles Schwab Investment Management Inc. lifted its stake in Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares in the last quarter. Finally, Sora Investors LLC bought a new position in Archer Aviation during the 3rd quarter valued at $3,429,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Trading Up 1.8 %

Shares of Archer Aviation stock opened at $8.13 on Thursday. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The stock’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $6.34. The stock has a market capitalization of $3.46 billion, a P/E ratio of -6.16 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACHR. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group raised their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC lifted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the transaction, the general counsel now directly owns 53,225 shares of the company’s stock, valued at $409,832.50. The trade was a 44.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,046,926 shares of company stock worth $8,695,783. Company insiders own 9.75% of the company’s stock.

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.