Harbor Capital Advisors Inc. grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR – Free Report) by 8.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 219,158 shares of the company’s stock after buying an additional 17,031 shares during the period. Harbor Capital Advisors Inc.’s holdings in Archer Aviation were worth $2,378,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 19.7% during the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after buying an additional 3,249,106 shares during the period. Alpine Global Management LLC increased its stake in shares of Archer Aviation by 16.7% during the first quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock valued at $30,583,000 after buying an additional 615,481 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Archer Aviation by 455.3% during the fourth quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company’s stock valued at $31,605,000 after buying an additional 2,657,726 shares during the period. Nuveen LLC purchased a new position in shares of Archer Aviation during the first quarter valued at approximately $22,423,000. Finally, Northern Trust Corp increased its stake in shares of Archer Aviation by 32.5% during the first quarter. Northern Trust Corp now owns 3,108,457 shares of the company’s stock valued at $22,101,000 after buying an additional 762,398 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.
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Archer Aviation Price Performance
Shares of NYSE:ACHR opened at $9.02 on Thursday. The firm’s 50 day moving average price is $9.90 and its 200-day moving average price is $9.33. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5.82 billion, a PE ratio of -6.68 and a beta of 3.07.
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.
Insider Buying and Selling
In other news, General Counsel Eric Lentell sold 95,896 shares of Archer Aviation stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation 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 $846,687.39. Following the sale, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock valued at $2,865,206 in the last 90 days. Corporate insiders own 7.65% of the company’s stock.
Wall Street Analyst Weigh In
ACHR has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.43.
Check Out Our Latest Stock Report on ACHR
Archer Aviation Profile
(Free Report)
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.
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