Amova Asset Management Americas Inc. Has $39.56 Million Holdings in Archer Aviation Inc. $ACHR

Amova Asset Management Americas Inc. decreased its stake in Archer Aviation Inc. (NYSE:ACHR) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,651,742 shares of the company’s stock after selling 262,449 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 1.03% of Archer Aviation worth $39,560,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in Archer Aviation in the fourth quarter worth $58,494,000. Man Group plc raised its stake in shares of Archer Aviation by 13,793.3% in the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after acquiring an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after purchasing an additional 4,146,574 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after purchasing an additional 3,293,130 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $5.33 on Tuesday. The firm has a fifty day moving average of $5.55 and a two-hundred day moving average of $6.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -4.84 and a beta of 3.19. Archer Aviation Inc. has a 52 week low of $4.30 and a 52 week high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the business posted ($0.17) EPS. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Canaccord Genuity Group decreased their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Hold” and a consensus price target of $11.83.

More Archer Aviation News

Here are the key news stories impacting Archer Aviation this week:

• Positive Sentiment: Archer and Anduril introduced “Thunder,” an autonomous VTOL platform designed for both defense and commercial use, giving Archer a new growth avenue beyond urban air mobility. Anduril and Archer Unveil Jointly-Developed Autonomous VTOL Platform For Commercial and Defense Applications
• Positive Sentiment: The market is reacting favorably to Archer’s push into defense, with the new platform seen as a potential way to speed commercialization and diversify revenue sources. Archer, Anduril unveil autonomous aircraft platform for defense, commercial markets
• Positive Sentiment: Investor sentiment was also supported by management reiterating Archer’s goal to achieve certification by 2028, which suggests continued progress toward commercialization. Archer CEO reaffirms ‘ambitious’ 2028 flight goal as company unveils military craft with Anduril

Insider Activity

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $73,863.30. Following the completion of the sale, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This represents a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the completion of the sale, the insider owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This represents a 25.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 250,743 shares of company stock worth $1,497,672 in the last ninety days. Company insiders own 5.55% of the company’s stock.

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.