Verition Fund Management LLC Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Verition Fund Management LLC acquired a new position in Archer Aviation Inc. (NYSE:ACHR – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,110 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new stake in shares of Archer Aviation during the second quarter valued at approximately $26,000. Quantbot Technologies LP grew its holdings in shares of Archer Aviation by 1,114.0% during the third quarter. Quantbot Technologies LP now owns 11,824 shares of the company’s stock valued at $30,000 after buying an additional 10,850 shares during the last quarter. BBR Partners LLC purchased a new stake in shares of Archer Aviation during the second quarter valued at approximately $30,000. SkyOak Wealth LLC purchased a new stake in shares of Archer Aviation during the third quarter valued at approximately $31,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Archer Aviation by 182.5% in the third quarter. Tower Research Capital LLC TRC now owns 12,946 shares of the company’s stock worth $34,000 after purchasing an additional 8,364 shares during the last quarter. Hedge funds and other institutional investors own 41.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped their target price on shares of Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating on the stock in a report on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder Brett Adcock sold 142,209 shares of the stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $2.66, for a total value of $378,275.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Archer Aviation news, CEO Adam D. Goldstein purchased 39,526 shares of the firm’s stock in a transaction on Thursday, January 12th. The shares were acquired at an average cost of $2.54 per share, for a total transaction of $100,396.04. Following the completion of the transaction, the chief executive officer now owns 139,526 shares of the company’s stock, valued at $354,396.04. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Brett Adcock sold 142,209 shares of the firm’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $2.66, for a total transaction of $378,275.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 82,642 shares of company stock worth $213,098 and have sold 1,573,000 shares worth $3,910,178. Insiders own 30.67% of the company’s stock.

Archer Aviation Trading Up 8.5 %

Shares of ACHR stock opened at $3.07 on Friday. Archer Aviation Inc. has a 12-month low of $1.62 and a 12-month high of $5.24. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.02. The firm’s 50 day moving average is $2.70 and its 200 day moving average is $2.69. The stock has a market capitalization of $746.90 million, a P/E ratio of -2.33 and a beta of 2.16.

Archer Aviation Company Profile

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Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.