GAMMA Investing LLC Has $470,000 Position in Archer Aviation Inc. (NYSE:ACHR)

GAMMA Investing LLC boosted its holdings in Archer Aviation Inc. (NYSE:ACHR) by 3,582.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,555 shares of the company’s stock after acquiring an additional 6,377 shares during the quarter. GAMMA Investing LLC’s holdings in Archer Aviation were worth $470,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after buying an additional 446,864 shares during the period. Private Advisor Group LLC increased its position in Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after purchasing an additional 36,840 shares in the last quarter. ARK Investment Management LLC grew its holdings in 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. California State Teachers Retirement System boosted its stake in shares of Archer Aviation by 26.2% in the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock valued at $2,354,000 after purchasing an additional 50,104 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Archer Aviation by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Stock Up 2.9%

NYSE:ACHR opened at $10.21 on Friday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of -7.79 and a beta of 3.13. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The stock has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $9.01.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.04. Analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 80,919 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the sale, the chief technology officer now directly owns 1,253,294 shares in the company, valued at $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark Mesler sold 34,498 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the sale, the chief financial officer now owns 659,357 shares of the company’s stock, valued at $4,641,873.28. This trade represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on ACHR shares. Raymond James Financial increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. HC Wainwright restated a “buy” rating and set a $18.00 price target (up previously from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Canaccord Genuity Group reduced their price target on shares of Archer Aviation from $13.50 to $13.00 and set a “buy” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.13.

Archer Aviation Company 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.