Blair William & Co. IL Acquires 32,204 Shares of Archer Aviation Inc. (NYSE:ACHR)

Blair William & Co. IL lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 55.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,834 shares of the company’s stock after purchasing an additional 32,204 shares during the period. Blair William & Co. IL’s holdings in Archer Aviation were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ACHR. CWM LLC increased its holdings in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Archer Aviation by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after acquiring an additional 5,611 shares during the last quarter. Arizona State Retirement System increased its holdings in Archer Aviation by 13.7% in the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after acquiring an additional 7,184 shares during the last quarter. Interchange Capital Partners LLC increased its holdings in Archer Aviation by 48.7% in the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock worth $120,000 after acquiring an additional 8,361 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Archer Aviation by 2.3% in the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after acquiring an additional 8,500 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACHR shares. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. HC Wainwright began coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Insider Transactions at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.17% of the stock is owned by insiders.

Archer Aviation Price Performance

ACHR stock opened at $2.91 on Friday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $7.01. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.03 billion, a PE ratio of -1.79 and a beta of 2.32. The stock has a 50-day simple moving average of $3.66 and a two-hundred day simple moving average of $3.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.07. On average, equities analysts predict that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.

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.