Archer Aviation Inc. $ACHR Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in Archer Aviation Inc. (NYSE:ACHR) by 38.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 430,920 shares of the company’s stock after acquiring an additional 118,598 shares during the period. Rhumbline Advisers owned approximately 0.08% of Archer Aviation worth $3,064,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Archer Aviation during the 4th quarter valued at $27,000. Allworth Financial LP raised its position in Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after purchasing an additional 1,664 shares during the period. Strs Ohio acquired a new stake in shares of Archer Aviation during the first quarter valued at about $27,000. Tidemark LLC grew its stake in shares of Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Comerica Bank grew its stake in Archer Aviation by 113.2% in the fourth quarter. Comerica Bank now owns 4,076 shares of the company’s stock worth $40,000 after purchasing an additional 2,164 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $9.14 on Tuesday. The firm has a market capitalization of $5.90 billion, a PE ratio of -6.77 and a beta of 3.07. The firm has a 50-day moving average price of $9.96 and a 200 day moving average price of $9.33. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ACHR shares. Canaccord Genuity Group reissued a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Insider Activity

In other news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the transaction, the insider directly owned 295,337 shares of the company’s stock, valued at $2,903,162.71. This trade represents a 12.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is owned by company insiders.

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.