Alta Fundamental Advisers LLC Decreases Stake in Archer Aviation Inc. $ACHR

Alta Fundamental Advisers LLC decreased its position in Archer Aviation Inc. (NYSE:ACHRFree Report) by 12.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,168,333 shares of the company’s stock after selling 170,500 shares during the period. Archer Aviation accounts for 4.0% of Alta Fundamental Advisers LLC’s holdings, making the stock its 12th biggest position. Alta Fundamental Advisers LLC’s holdings in Archer Aviation were worth $8,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 4.4% during the 4th 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 last quarter. ARK Investment Management LLC increased its stake in shares of Archer Aviation by 5.8% during the 3rd quarter. ARK Investment Management LLC now owns 31,301,449 shares of the company’s stock worth $299,868,000 after purchasing an additional 1,715,945 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after purchasing an additional 1,867,648 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Archer Aviation by 21.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock worth $59,515,000 after purchasing an additional 1,407,775 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $58,494,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction on 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 directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $73,863.30. Following the completion of the transaction, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 282,840 shares of company stock worth $1,703,688. 7.65% of the stock is owned by corporate insiders.

Archer Aviation Stock Down 2.4%

Archer Aviation stock opened at $6.37 on Friday. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of -5.79 and a beta of 3.14. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $6.98.

Archer Aviation (NYSE:ACHRGet Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the company earned ($0.17) EPS. On average, analysts predict that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Needham & Company LLC decreased their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. 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. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Get Our Latest Stock Analysis on Archer Aviation

Key Headlines Impacting Archer Aviation

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About Archer Aviation

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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