Vestor Capital LLC Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Vestor Capital LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Archer Aviation by 20.1% in the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after acquiring an additional 1,394,872 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of 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 purchasing an additional 11,163 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $1,170,000. ARK Investment Management LLC lifted its stake in Archer Aviation by 4.7% during the fourth 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 last quarter. Finally, Citigroup Inc. boosted its holdings in Archer Aviation by 24.3% during the third quarter. Citigroup Inc. now owns 186,475 shares of the company’s stock worth $944,000 after buying an additional 36,509 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Tuesday, February 27th. JPMorgan Chase & Co. cut their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.00.

Insider Buying and Selling

In related news, major shareholder N.V. Stellantis acquired 750,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $5.19 per share, with a total value of $3,892,500.00. Following the completion of the transaction, the insider now owns 39,351,720 shares of the company’s stock, valued at approximately $204,235,426.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders acquired 3,150,000 shares of company stock valued at $15,724,500. Corporate insiders own 27.17% of the company’s stock.

Archer Aviation Trading Up 0.9 %

Shares of NYSE:ACHR traded up $0.04 during mid-day trading on Thursday, hitting $3.77. The stock had a trading volume of 5,537,621 shares, compared to its average volume of 4,953,773. The company’s 50 day moving average is $4.33 and its 200-day moving average is $5.13. Archer Aviation Inc. has a 12-month low of $1.91 and a 12-month high of $7.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.21 and a current ratio of 4.21. The company has a market cap of $1.17 billion, a PE ratio of -2.18 and a beta of 2.45.

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

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.