Hsbc Holdings PLC Increases Stock Holdings in Archer Aviation Inc. $ACHR

Hsbc Holdings PLC lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 476.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 568,861 shares of the company’s stock after buying an additional 470,216 shares during the quarter. Hsbc Holdings PLC’s holdings in Archer Aviation were worth $2,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Gould Capital LLC increased its holdings in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in shares of Archer Aviation in the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares during the last quarter. Modus Advisors LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $29,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $32,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Stock Performance

NYSE ACHR opened at $4.75 on Friday. The business’s 50-day moving average price is $5.45 and its 200 day moving average price is $6.28. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a twelve month low of $4.30 and a twelve month high of $14.62. The company has a market capitalization of $3.61 billion, a PE ratio of -4.32 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same period last year, the business earned ($0.17) EPS. On average, research analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ACHR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.83.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. The trade was a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock valued at $1,497,672 over the last three months. Insiders own 5.55% of the company’s stock.

About Archer Aviation

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.