Archer Aviation Inc. (NYSE:ACHR) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its stake in Archer Aviation Inc. (NYSE:ACHR) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,163 shares of the company’s stock after acquiring an additional 11,163 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Archer Aviation were worth $693,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Archer Aviation by 20.1% in the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after purchasing an additional 1,394,872 shares during the last quarter. SG Americas Securities LLC acquired a new position in Archer Aviation in the third quarter valued at $1,596,000. Jump Financial LLC acquired a new position in Archer Aviation in the third quarter valued at $1,170,000. ARK Investment Management LLC increased its stake in Archer Aviation by 4.7% in the fourth quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after purchasing an additional 1,116,908 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Archer Aviation by 24.3% in the third quarter. Citigroup Inc. now owns 186,475 shares of the company’s stock valued at $944,000 after purchasing an additional 36,509 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 800,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was bought at an average price of $4.60 per share, with a total value of $3,680,000.00. Following the completion of the transaction, the insider now directly owns 35,451,720 shares of the company’s stock, valued at $163,077,912. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders purchased 3,150,000 shares of company stock valued at $15,724,500 over the last quarter. Company insiders own 27.17% of the company’s stock.

Archer Aviation Stock Performance

Shares of NYSE:ACHR opened at $3.90 on Tuesday. The firm has a market capitalization of $1.21 billion, a PE ratio of -2.25 and a beta of 2.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21. The business has a 50-day moving average of $4.76 and a two-hundred day moving average of $5.28. Archer Aviation Inc. has a 12 month low of $1.77 and a 12 month high of $7.49.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). As a group, research analysts forecast that Archer Aviation Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $9.60.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.