Yarbrough Capital LLC Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Yarbrough Capital LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 619,418 shares of the company’s stock, valued at approximately $6,039,000. Yarbrough Capital LLC owned about 0.15% of Archer Aviation at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Miller Wealth Advisors LLC acquired a new position in Archer Aviation in the 3rd quarter valued at about $26,000. Versant Capital Management Inc raised its position in shares of Archer Aviation by 74.3% in the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after buying an additional 3,430 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Code Waechter LLC purchased a new stake in Archer Aviation in the 3rd quarter worth approximately $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new stake in Archer Aviation in the 3rd quarter worth approximately $31,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Price Performance

Shares of ACHR stock opened at $9.09 on Friday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $8.08 and a 200-day simple moving average of $5.17. The company has a market capitalization of $3.86 billion, a PE ratio of -6.88 and a beta of 3.15. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ACHR. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price objective on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Insider Activity

In related news, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

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.