HBK Investments L P Makes New $6.82 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

HBK Investments L P purchased a new position in Archer Aviation Inc. (NYSE:ACHR) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,250,000 shares of the company’s stock, valued at approximately $6,818,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Intellectus Partners LLC lifted its position in shares of Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after purchasing an additional 11,800 shares during the last quarter. Raymond James & Associates grew its stake in Archer Aviation by 44.4% in the second quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after purchasing an additional 192,120 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Archer Aviation by 29.3% in the second quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock valued at $1,098,000 after buying an additional 70,575 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Up 11.9 %

ACHR opened at $8.08 on Friday. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $8.54. The stock has a market cap of $3.44 billion, a P/E ratio of -6.12 and a beta of 2.29. The stock’s 50 day moving average price is $3.85 and its 200 day moving average price is $3.77. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) earnings per share. As a group, research analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In related news, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the acquisition, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. 9.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $9.33.

Archer Aviation Profile

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.