Legal & General Group Plc Buys 179,952 Shares of Archer Aviation Inc. $ACHR

Legal & General Group Plc grew its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 40.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 630,311 shares of the company's stock after acquiring an additional 179,952 shares during the period. Legal & General Group Plc owned 0.11% of Archer Aviation worth $6,839,000 at the end of the most recent quarter.

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Other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Creek Financial Management LLC acquired a new stake in Archer Aviation during the second quarter worth approximately $465,000. Virtu Financial LLC lifted its position in shares of Archer Aviation by 704.2% during the 1st quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after acquiring an additional 314,844 shares during the period. Swiss National Bank grew its holdings in shares of Archer Aviation by 42.4% during the 1st quarter. Swiss National Bank now owns 728,900 shares of the company's stock worth $5,182,000 after purchasing an additional 217,200 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Archer Aviation in the first quarter worth $4,977,000. Finally, KLP Kapitalforvaltning AS raised its stake in Archer Aviation by 57.5% in the second quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company's stock valued at $1,242,000 after purchasing an additional 41,800 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the completion of the transaction, the insider directly owned 334,632 shares in the company, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares in the company, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is currently owned by insiders.

Archer Aviation Price Performance

• Joby and Archer Forge a New Strategic Chapter in the UAE

ACHR stock opened at $8.33 on Thursday. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of -6.61 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The company has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $10.03. Archer Aviation Inc. has a 1 year low of $5.48 and a 1 year high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). Research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

• Archer’s Recent String of Victories Signals a New Phase of Growth

ACHR has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, November 7th. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a report on Monday. They set a "neutral" rating and a $11.00 price target for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Needham & Company LLC lowered their price objective on shares of Archer Aviation from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, November 7th. Finally, HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $12.50.

Check Out Our Latest Stock Report on Archer Aviation

Archer Aviation Company 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.

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Want to see what other hedge funds are holding ACHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Aviation Inc. (NYSE:ACHR - Free Report).

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