Amova Asset Management Americas Inc. Has $39.56 Million Stake in Archer Aviation Inc. $ACHR

Amova Asset Management Americas Inc. reduced its stake in Archer Aviation Inc. (NYSE:ACHR) by 3.3% during the 1st quarter, HoldingsChannel reports. The fund owned 7,651,742 shares of the company’s stock after selling 262,449 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Archer Aviation were worth $39,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACHR. Seven Grand Managers LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at about $22,560,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Archer Aviation by 21.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after purchasing an additional 1,407,775 shares during the last quarter. Norges Bank bought a new position in Archer Aviation during the fourth quarter worth about $58,494,000. Vanguard Group Inc. grew its holdings in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after purchasing an additional 2,312,899 shares during the period. Finally, Generali Powszechne Towarzystwo Emerytalne acquired a new position in Archer Aviation during the fourth quarter worth approximately $7,520,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation News Summary

Here are the key news stories impacting Archer Aviation this week:

• Positive Sentiment: Archer and Anduril introduced “Thunder,” an autonomous VTOL platform designed for both defense and commercial use, giving Archer a new growth avenue beyond urban air mobility. Anduril and Archer Unveil Jointly-Developed Autonomous VTOL Platform For Commercial and Defense Applications
• Positive Sentiment: The market is reacting favorably to Archer’s push into defense, with the new platform seen as a potential way to speed commercialization and diversify revenue sources. Archer, Anduril unveil autonomous aircraft platform for defense, commercial markets
• Positive Sentiment: Investor sentiment was also supported by management reiterating Archer’s goal to achieve certification by 2028, which suggests continued progress toward commercialization. Archer CEO reaffirms ‘ambitious’ 2028 flight goal as company unveils military craft with Anduril

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday. Canaccord Genuity Group cut their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.83.

Archer Aviation Trading Up 19.9%

Shares of ACHR opened at $5.33 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. Archer Aviation Inc. has a 52-week low of $4.30 and a 52-week high of $14.62. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -4.84 and a beta of 3.19. The business’s fifty day moving average is $5.55 and its 200-day moving average is $6.34.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the company posted ($0.17) EPS. Equities analysts anticipate that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric Lentell sold 48,169 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the completion of the transaction, the insider owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 in the last ninety days. Insiders own 5.55% 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.