Headlands Technologies LLC Buys New Position in Archer Aviation Inc. (NYSE:ACHR)

Headlands Technologies LLC purchased a new position in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,130,805 shares of the company’s stock, valued at approximately $11,025,000. Archer Aviation accounts for 1.1% of Headlands Technologies LLC’s portfolio, making the stock its 11th biggest holding. Headlands Technologies LLC owned about 0.27% of Archer Aviation at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Harbour Investments Inc. grew its stake in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the last quarter. US Bancorp DE grew its position in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after buying an additional 4,306 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Archer Aviation in the fourth quarter worth $49,000. Finally, Amalgamated Bank raised its holdings in Archer Aviation by 50.7% in the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock valued at $78,000 after acquiring an additional 2,680 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Buying and Selling at Archer Aviation

In related news, CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 303,985 shares of company stock valued at $2,555,685 in the last ninety days. Company insiders own 9.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Needham & Company LLC upped their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Down 1.7 %

Shares of NYSE ACHR opened at $7.14 on Tuesday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a market cap of $3.87 billion, a price-to-earnings ratio of -5.41 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $8.72 and its 200 day simple moving average is $6.92.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current 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.