Harbor Capital Advisors Inc. Has $1.69 Million Stock Position in Archer Aviation Inc. $ACHR

Harbor Capital Advisors Inc. boosted its position in Archer Aviation Inc. (NYSE:ACHR) by 91.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 224,938 shares of the company’s stock after acquiring an additional 107,654 shares during the period. Harbor Capital Advisors Inc.’s holdings in Archer Aviation were worth $1,692,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Balboa Wealth Partners increased its holdings in shares of Archer Aviation by 90.7% during the fourth quarter. Balboa Wealth Partners now owns 23,450 shares of the company’s stock valued at $176,000 after acquiring an additional 11,150 shares in the last quarter. Capital Advisors Inc. OK acquired a new position in shares of Archer Aviation during the fourth quarter worth approximately $117,000. Nikulski Financial Inc. bought a new position in shares of Archer Aviation in the 4th quarter worth $367,000. Spire Wealth Management lifted its holdings in shares of Archer Aviation by 39.7% in the 4th quarter. Spire Wealth Management now owns 9,706 shares of the company’s stock worth $73,000 after purchasing an additional 2,760 shares in the last quarter. Finally, Tradewinds Capital Management LLC grew its position in Archer Aviation by 91.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 15,749 shares of the company’s stock valued at $118,000 after purchasing an additional 7,529 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Eric Lentell sold 8,059 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $50,529.93. Following the completion of the sale, the insider owned 150,119 shares in the company, valued at $941,246.13. This represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Priya Gupta sold 7,263 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $45,539.01. Following the transaction, the chief financial officer directly owned 178,512 shares in the company, valued at $1,119,270.24. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 255,750 shares of company stock valued at $1,645,333 over the last 90 days. 7.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC dropped their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Down 0.3%

Shares of NYSE:ACHR opened at $5.41 on Friday. The business’s 50 day moving average is $6.56 and its 200 day moving average is $8.31. Archer Aviation Inc. has a 12-month low of $4.80 and a 12-month high of $14.62. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -5.46 and a beta of 3.24. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

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

Archer Aviation Profile

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.