Newbridge Financial Services Group Inc. Reduces Stake in Archer Aviation Inc. (NYSE:ACHR)

Newbridge Financial Services Group Inc. lowered its holdings in Archer Aviation Inc. (NYSE:ACHRFree Report) by 35.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,500 shares of the company’s stock after selling 8,000 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Archer Aviation were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Archer Aviation by 20.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after purchasing an additional 1,394,872 shares during the period. ARK Investment Management LLC lifted its stake in shares of Archer Aviation by 4.7% in the 4th quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after purchasing an additional 1,116,908 shares during the period. Vestmark Advisory Solutions Inc. purchased a new position in shares of Archer Aviation in the 4th quarter valued at approximately $3,825,000. Seven Eight Capital LP bought a new position in Archer Aviation during the 3rd quarter valued at approximately $2,739,000. Finally, EAM Investors LLC bought a new position in Archer Aviation during the 3rd quarter valued at approximately $1,848,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

ACHR has been the subject of a number of analyst reports. Barclays reduced their price objective on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research report on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.10.

Read Our Latest Report on ACHR

Archer Aviation Trading Down 1.6 %

Shares of Archer Aviation stock traded down $0.05 on Tuesday, reaching $3.12. The company’s stock had a trading volume of 1,123,882 shares, compared to its average volume of 5,111,586. The firm’s fifty day simple moving average is $3.66 and its two-hundred day simple moving average is $4.73. Archer Aviation Inc. has a 52 week low of $3.00 and a 52 week high of $7.49. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period last year, the company earned ($0.46) earnings per share. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.33 EPS for the current year.

Archer Aviation Company 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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Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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