Archer Aviation Inc. (NYSE:ACHR) Short Interest Update

Archer Aviation Inc. (NYSE:ACHR) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 52,040,000 shares, a growth of 5.8% from the March 15th total of 49,210,000 shares. Approximately 27.3% of the company’s stock are sold short. Based on an average daily volume of 5,380,000 shares, the short-interest ratio is currently 9.7 days.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 800,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was bought at an average price of $4.60 per share, for a total transaction of $3,680,000.00. Following the completion of the purchase, the insider now directly owns 35,451,720 shares of the company’s stock, valued at approximately $163,077,912. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 3,150,000 shares of company stock worth $15,724,500 over the last three months. Insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. ARK Investment Management LLC grew its stake in shares of Archer Aviation by 159.6% during the 3rd quarter. ARK Investment Management LLC now owns 23,790,372 shares of the company’s stock worth $120,379,000 after purchasing an additional 14,625,655 shares during the period. State Street Corp grew its position in Archer Aviation by 1,667.7% during the second quarter. State Street Corp now owns 6,964,137 shares of the company’s stock worth $21,450,000 after buying an additional 6,570,169 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Archer Aviation by 54.7% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company’s stock worth $59,478,000 after buying an additional 4,154,340 shares during the period. Vanguard Group Inc. increased its holdings in Archer Aviation by 20.8% in the fourth quarter. Vanguard Group Inc. now owns 10,059,471 shares of the company’s stock valued at $61,765,000 after buying an additional 1,734,746 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Archer Aviation by 31.9% during the 1st quarter. Invesco Ltd. now owns 4,464,734 shares of the company’s stock valued at $21,475,000 after acquiring an additional 1,079,978 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 1.9 %

NYSE ACHR opened at $3.79 on Thursday. Archer Aviation has a 52-week low of $1.77 and a 52-week high of $7.49. The firm has a 50-day moving average price of $4.72 and a 200 day moving average price of $5.26. The stock has a market capitalization of $1.18 billion, a P/E ratio of -2.19 and a beta of 2.43. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). Equities research analysts expect that Archer Aviation will post -1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Archer Aviation currently has an average rating of “Buy” and an average price target 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.