WINTON GROUP Ltd Invests $1.61 Million in Archer Aviation Inc. $ACHR

WINTON GROUP Ltd purchased a new position in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 214,113 shares of the company’s stock, valued at approximately $1,610,000.

A number of other large investors also recently modified their holdings of ACHR. Strs Ohio bought a new position in shares of Archer Aviation in the 1st quarter worth about $27,000. Johnson Investment Counsel Inc. bought a new position in shares of Archer Aviation in the 3rd quarter worth about $29,000. Basepoint Wealth LLC bought a new position in shares of Archer Aviation in the 4th quarter worth about $32,000. Center for Financial Planning Inc. lifted its position in shares of Archer Aviation by 138.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock worth $34,000 after buying an additional 2,040 shares during the last quarter. Finally, Danske Bank A S lifted its position in shares of Archer Aviation by 181.3% in the 4th quarter. Danske Bank A S now owns 4,500 shares of the company’s stock worth $34,000 after buying an additional 2,900 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Needham & Company LLC reduced their price target 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. Finally, Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Stock Up 3.4%

ACHR stock opened at $5.73 on Tuesday. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.62. The firm’s 50-day simple moving average is $5.97 and its 200 day simple moving average is $6.95. The stock has a market cap of $4.35 billion, a PE ratio of -5.21 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In related news, insider Eric Lentell sold 48,169 shares of the stock in a transaction dated 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 owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. This trade represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 282,840 shares of company stock worth $1,703,688. 7.65% of the stock is owned by company insiders.

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.