HBK Investments L P Takes Position in Archer Aviation Inc. (NYSE:ACHR)

HBK Investments L P purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,250,000 shares of the company’s stock, valued at approximately $6,818,000. HBK Investments L P owned about 0.63% of Archer Aviation as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ACHR. Cetera Advisors LLC purchased a new stake in shares of Archer Aviation during the first quarter worth approximately $80,000. CWM LLC grew its stake in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Archer Aviation by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after buying an additional 5,611 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Archer Aviation during the first quarter worth about $49,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $8.08 on Friday. 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 $3.44 billion, a PE ratio of -6.12 and a beta of 2.29. The firm has a 50 day simple moving average of $3.85 and a 200-day simple moving average of $3.77. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $8.54.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the firm earned ($0.19) earnings per share. On average, equities analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research reports. HC Wainwright initiated coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and five have assigned 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 target price of $9.33.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. 9.75% of the stock is owned by company insiders.

Archer Aviation 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.