Arizona State Retirement System Boosts Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Arizona State Retirement System lifted its position in Archer Aviation Inc. (NYSE:ACHR) by 41.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,216 shares of the company’s stock after acquiring an additional 15,385 shares during the period. Arizona State Retirement System’s holdings in Archer Aviation were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust purchased a new stake in Archer Aviation during the 3rd quarter valued at about $27,000. Point72 Middle East FZE acquired a new position in shares of Archer Aviation during the 4th quarter worth approximately $27,000. FMR LLC grew its position in shares of Archer Aviation by 233.6% in the first quarter. FMR LLC now owns 10,265 shares of the company’s stock valued at $29,000 after purchasing an additional 7,188 shares in the last quarter. Private Advisor Group LLC purchased a new position in Archer Aviation during the first quarter worth approximately $30,000. Finally, Tower Research Capital LLC TRC lifted its position in Archer Aviation by 182.5% during the third quarter. Tower Research Capital LLC TRC now owns 12,946 shares of the company’s stock worth $34,000 after buying an additional 8,364 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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 dated Monday, March 11th. The shares were purchased at an average cost of $4.83 per share, for a total transaction of $3,864,000.00. Following the acquisition, the insider now owns 36,251,720 shares in the company, valued at approximately $175,095,807.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 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.

Archer Aviation Trading Down 3.4 %

Shares of Archer Aviation stock opened at $3.65 on Friday. The stock has a 50 day moving average of $4.65 and a 200 day moving average of $5.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.11 and a beta of 2.43. Archer Aviation Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $7.49.

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

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price 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 presently has an average rating of “Buy” and a consensus target price of $9.60.

Archer Aviation Profile

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.