Fox Run Management L.L.C. Purchases New Holdings in Archer Aviation Inc. (NYSE:ACHR)

Fox Run Management L.L.C. acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,114 shares of the company’s stock, valued at approximately $147,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ARK Investment Management LLC boosted its holdings in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. HBK Investments L P acquired a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $6,818,000. Sora Investors LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $3,429,000. Raymond James Financial Inc. bought a new stake in shares of Archer Aviation during the fourth quarter worth approximately $7,249,000. Finally, Yarbrough Capital LLC acquired a new position in Archer Aviation in the fourth quarter valued at approximately $6,039,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on ACHR shares. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Transactions at Archer Aviation

In related news, General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares of the company’s stock, valued at approximately $409,832.50. This trade represents a 44.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 303,985 shares of company stock worth $2,555,685 in the last three months. Insiders own 9.75% of the company’s stock.

Archer Aviation Trading Down 7.6 %

NYSE:ACHR opened at $7.26 on Friday. The company has a market cap of $3.94 billion, a P/E ratio of -5.50 and a beta of 3.14. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The business has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $6.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.