Ethic Inc. Purchases 16,505 Shares of Archer Aviation Inc. $ACHR

Ethic Inc. boosted its position in Archer Aviation Inc. (NYSE:ACHR) by 94.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 33,999 shares of the company’s stock after purchasing an additional 16,505 shares during the period. Ethic Inc.’s holdings in Archer Aviation were worth $356,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after purchasing an additional 2,024 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after acquiring an additional 1,106 shares during the last quarter. Allworth Financial LP boosted its stake 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 acquiring an additional 1,664 shares during the last quarter. Strs Ohio purchased a new position in Archer Aviation in the first quarter valued at about $27,000. Finally, Tidemark LLC boosted its stake in Archer Aviation by 100.0% in 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 during the last quarter. 59.34% of the stock is owned by institutional investors.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. This represents a 12.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is owned by company insiders.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $11.17 on Thursday. The stock has a market capitalization of $7.21 billion, a P/E ratio of -8.28 and a beta of 3.06. 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 firm’s 50 day moving average is $10.21 and its 200 day moving average is $10.11. Archer Aviation Inc. has a 12 month low of $3.08 and a 12 month high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACHR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Canaccord Genuity Group reiterated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.43.

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.