Yarbrough Capital LLC Purchases Shares of 619,418 Archer Aviation Inc. (NYSE:ACHR)

Yarbrough Capital LLC acquired a new position in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 619,418 shares of the company’s stock, valued at approximately $6,039,000.

Several other institutional investors also recently modified their holdings of ACHR. Geode Capital Management LLC increased its stake in Archer Aviation by 5.6% in the third 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 during the period. HBK Investments L P acquired a new stake in Archer Aviation during the third quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. grew its stake in shares of Archer Aviation by 5.4% in 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 purchasing an additional 94,430 shares during the period. Sora Investors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter worth approximately $3,429,000. Finally, Intellectus Partners LLC lifted its position in shares of Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after buying an additional 11,800 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $9.09 on Friday. The firm has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $5.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $3.86 billion, a P/E ratio of -6.88 and a beta of 3.15. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the company earned ($0.19) EPS. Sell-side analysts predict that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of analyst reports. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

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.