BG Investment Services Inc. purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the company’s stock, valued at approximately $46,000. Archer Aviation makes up about 0.1% of BG Investment Services Inc.’s portfolio, making the stock its 12th largest holding.
Other institutional investors and hedge funds also recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in Archer Aviation in the fourth quarter worth approximately $555,000. Qube Research & Technologies Ltd boosted its stake in shares of Archer Aviation by 29.2% during the 1st quarter. Qube Research & Technologies Ltd now owns 161,359 shares of the company’s stock worth $776,000 after acquiring an additional 36,497 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Archer Aviation by 52.2% during the 1st quarter. Ieq Capital LLC now owns 23,398 shares of the company’s stock worth $113,000 after acquiring an additional 8,025 shares during the last quarter. Sargent Investment Group LLC purchased a new position in shares of Archer Aviation during the 1st quarter worth $515,000. Finally, DnB Asset Management AS boosted its stake in shares of Archer Aviation by 80.5% during the 2nd quarter. DnB Asset Management AS now owns 159,502 shares of the company’s stock worth $491,000 after acquiring an additional 71,119 shares during the last quarter. Institutional investors own 58.80% of the company’s stock.
Insider Transactions at Archer Aviation
In other news, major shareholder Brett Adcock sold 140,000 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $3.00, for a total value of $420,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 487,090 shares of company stock worth $1,708,593 in the last three months. Insiders own 30.67% of the company’s stock.
Archer Aviation Stock Performance
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $10.00 to $12.00 in a research note on Tuesday, August 16th. Raymond James assumed coverage on shares of Archer Aviation in a research note on Wednesday, July 27th. They set an “outperform” rating and a $8.00 price target on the stock. Finally, Barclays lowered their target price on shares of Archer Aviation from $5.50 to $4.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.
Archer Aviation Company Profile
Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.
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