Hsbc Holdings PLC Acquires 11,491 Shares of Archer Aviation Inc. $ACHR

Hsbc Holdings PLC grew its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 29.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,016 shares of the company’s stock after buying an additional 11,491 shares during the period. Hsbc Holdings PLC’s holdings in Archer Aviation were worth $354,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Archer Aviation by 455.3% during the 4th quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company’s stock valued at $31,605,000 after purchasing an additional 2,657,726 shares during the period. Nuveen LLC bought a new stake in shares of Archer Aviation during the 1st quarter valued at $22,423,000. Northern Trust Corp raised its stake in shares of Archer Aviation by 32.5% during the 1st quarter. Northern Trust Corp now owns 3,108,457 shares of the company’s stock valued at $22,101,000 after purchasing an additional 762,398 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Archer Aviation by 36.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company’s stock valued at $22,080,000 after purchasing an additional 827,893 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,964 shares of company stock worth $2,865,206. Corporate insiders own 7.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ACHR shares. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. UBS Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their target price on Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.43.

Archer Aviation Price Performance

ACHR opened at $8.38 on Thursday. The stock has a 50-day moving average price of $10.23 and a 200-day moving average price of $9.36. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.40 billion, a P/E ratio of -6.20 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share 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.