Herold Advisors Inc. Buys 47,872 Shares of Archer Aviation Inc. (NYSE:ACHR)

Herold Advisors Inc. increased its holdings in Archer Aviation Inc. (NYSE:ACHR) by 280.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 64,954 shares of the company’s stock after buying an additional 47,872 shares during the quarter. Herold Advisors Inc.’s holdings in Archer Aviation were worth $399,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Archer Aviation in the 4th quarter worth about $294,000. Aquila Investment Management LLC bought a new stake in Archer Aviation in the 4th quarter worth about $270,000. DekaBank Deutsche Girozentrale increased its holdings in Archer Aviation by 11.2% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 111,163 shares of the company’s stock worth $693,000 after buying an additional 11,163 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in Archer Aviation in the fourth quarter worth about $104,000. Finally, Arizona State Retirement System boosted its position in Archer Aviation by 41.8% in the fourth quarter. Arizona State Retirement System now owns 52,216 shares of the company’s stock worth $321,000 after purchasing an additional 15,385 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research report on Tuesday, February 27th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $9.60.

Insider Activity at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 800,000 shares of Archer Aviation stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $4.60 per share, with a total value of $3,680,000.00. Following the purchase, the insider now directly owns 35,451,720 shares in the company, valued at approximately $163,077,912. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 3,150,000 shares of company stock worth $15,724,500 in the last 90 days. Corporate insiders own 27.17% of the company’s stock.

Archer Aviation Stock Up 0.9 %

Shares of ACHR stock traded up $0.03 during mid-day trading on Friday, hitting $4.02. The stock had a trading volume of 3,107,788 shares, compared to its average volume of 5,084,352. Archer Aviation Inc. has a 12-month low of $1.81 and a 12-month high of $7.49. The firm has a market capitalization of $1.25 billion, a P/E ratio of -2.29 and a beta of 2.43. The firm’s 50-day moving average is $4.54 and its two-hundred day moving average is $5.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.21 and a quick ratio of 4.21.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, February 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.35). On average, analysts predict that Archer Aviation Inc. will post -1.45 earnings per share 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.