Harbor Capital Advisors Inc. Buys 107,654 Shares of Archer Aviation Inc. $ACHR

Harbor Capital Advisors Inc. grew its stake in Archer Aviation Inc. (NYSE:ACHR) by 91.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,938 shares of the company’s stock after buying an additional 107,654 shares during the period. Harbor Capital Advisors Inc.’s holdings in Archer Aviation were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ACHR. Balboa Wealth Partners increased its position in Archer Aviation by 90.7% during the 4th quarter. Balboa Wealth Partners now owns 23,450 shares of the company’s stock valued at $176,000 after purchasing an additional 11,150 shares during the period. Capital Advisors Inc. OK acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $117,000. Nikulski Financial Inc. bought a new stake in shares of Archer Aviation in the 4th quarter valued at $367,000. Spire Wealth Management boosted its stake in shares of Archer Aviation by 39.7% in the 4th quarter. Spire Wealth Management now owns 9,706 shares of the company’s stock valued at $73,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its position in shares of Archer Aviation by 91.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 15,749 shares of the company’s stock worth $118,000 after buying an additional 7,529 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 37,390 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $241,539.40. Following the completion of the sale, the insider directly owned 139,483 shares of the company’s stock, valued at approximately $901,060.18. The trade was a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 94,725 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $611,923.50. Following the transaction, the chief technology officer owned 1,345,430 shares in the company, valued at $8,691,477.80. This represents a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 255,750 shares of company stock valued at $1,645,333 over the last 90 days. Insiders own 7.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACHR. Needham & Company LLC dropped their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Price Performance

Shares of ACHR opened at $5.41 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of -5.46 and a beta of 3.24. Archer Aviation Inc. has a 52-week low of $4.80 and a 52-week high of $14.62. The business’s 50 day moving average price is $6.56 and its two-hundred day moving average price is $8.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. Archer Aviation’s quarterly revenue was up 29900.0% on a year-over-year basis. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.