SG Americas Securities LLC Has $14.82 Million Holdings in Archer Aviation Inc. $ACHR

SG Americas Securities LLC raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 3,316.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,970,717 shares of the company’s stock after acquiring an additional 1,913,035 shares during the period. SG Americas Securities LLC owned about 0.30% of Archer Aviation worth $14,820,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $293,000. Integrated Wealth Concepts LLC increased its position in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Archer Aviation by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after purchasing an additional 59,317 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after purchasing an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock valued at $6,001,000 after buying an additional 285,414 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. The Goldman Sachs Group began coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Finally, Needham & Company LLC cut their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Down 5.1%

Shares of NYSE ACHR opened at $5.10 on Friday. The company has a 50 day simple moving average of $6.91 and a 200 day simple moving average of $8.43. The firm has a market cap of $3.79 billion, a PE ratio of -5.15 and a beta of 3.10. Archer Aviation Inc. has a 1 year low of $5.07 and a 1 year high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The business’s quarterly revenue was up 29900.0% compared to the same quarter last year. On average, research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In related news, CFO Priya Gupta sold 10,172 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $65,711.12. Following the sale, the chief financial officer owned 171,754 shares of the company’s stock, valued at $1,109,530.84. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Lentell sold 37,390 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $241,539.40. Following the completion of the sale, the insider directly owned 139,483 shares in the company, valued at approximately $901,060.18. This represents a 21.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 380,750 shares of company stock valued at $2,645,333 in the last quarter. Insiders own 7.65% of the company’s stock.

About Archer Aviation

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.