Captrust Financial Advisors Has $105,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Captrust Financial Advisors increased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 48.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,787 shares of the company’s stock after acquiring an additional 3,501 shares during the quarter. Captrust Financial Advisors’ holdings in Archer Aviation were worth $105,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. ARK Investment Management LLC increased its holdings in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Vanguard Group Inc. boosted its stake in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares during the period. Geode Capital Management LLC boosted its stake in Archer Aviation by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock valued at $56,908,000 after purchasing an additional 724,736 shares during the period. Alyeska Investment Group L.P. boosted its stake in Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock valued at $48,748,000 after purchasing an additional 3,064,280 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Archer Aviation in the 4th quarter valued at $42,709,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Shares of ACHR opened at $10.60 on Friday. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $13.92. 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 capitalization of $5.82 billion, a price-to-earnings ratio of -8.03 and a beta of 3.13. The business has a 50-day moving average of $8.42 and a 200-day moving average of $8.32.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now owns 53,225 shares of the company’s stock, valued at approximately $409,832.50. This represents a 44.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 705,844 shares of company stock worth $6,583,103. 7.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ACHR. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Friday, May 16th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.50.

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.