Aquatic Capital Management LLC Makes New $14.89 Million Investment in Archer Aviation Inc. $ACHR

Aquatic Capital Management LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR) in the third quarter, Holdings Channel.com reports. The firm bought 1,554,601 shares of the company’s stock, valued at approximately $14,893,000.

Several other large investors also recently bought and sold shares of the business. Strs Ohio acquired a new stake in Archer Aviation in the 1st quarter valued at about $27,000. Johnson Investment Counsel Inc. purchased a new position in Archer Aviation in the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust boosted its holdings in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at approximately $33,000. Finally, Center for Financial Planning Inc. grew its position in shares of Archer Aviation by 138.8% in the third quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after purchasing an additional 2,040 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Eric Lentell sold 37,390 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $241,539.40. Following the completion of the transaction, the insider directly owned 139,483 shares in the company, valued at $901,060.18. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tosha Perkins sold 54,786 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $353,917.56. Following the completion of the sale, the insider directly owned 377,022 shares of the company’s stock, valued at $2,435,562.12. The trade was a 12.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 344,899 shares of company stock valued at $2,420,548 over the last quarter. 7.65% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Needham & Company LLC dropped their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

Shares of ACHR opened at $6.03 on Friday. Archer Aviation Inc. has a 1-year low of $5.48 and a 1-year high of $14.62. The stock has a market cap of $3.92 billion, a PE ratio of -6.09 and a beta of 3.10. The firm has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $8.64. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The company’s revenue for the quarter was up 29900.0% compared to the same quarter last year. As a group, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.