Archer Aviation Inc. (NYSE:ACHR) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 16.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,003 shares of the company’s stock after selling 22,739 shares during the period. MetLife Investment Management LLC’s holdings in Archer Aviation were worth $345,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. CreativeOne Wealth LLC boosted its position in shares of Archer Aviation by 99.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock worth $292,000 after acquiring an additional 47,975 shares in the last quarter. Townsquare Capital LLC lifted its stake in Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Intech Investment Management LLC purchased a new position in Archer Aviation in the third quarter valued at approximately $206,000. Finally, Intellectus Partners LLC raised its holdings in Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after purchasing an additional 11,800 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In related news, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,069,958 shares of company stock worth $5,461,608. Company insiders own 9.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ACHR shares. HC Wainwright started coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $8.28 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market cap of $3.52 billion, a PE ratio of -6.27 and a beta of 3.19. The stock has a fifty day moving average price of $4.42 and a 200 day moving average price of $3.94. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $9.84.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) EPS. Sell-side analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current 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.