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ARK Investment Management LLC boosted its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,164,717 shares of the company's stock after purchasing an additional 361,597 shares during the period.
ARK Investment Management LLC owned about 3.70% of Archer Aviation worth $37,759,000 at the end of the most recent reporting period. Get Archer Aviation alerts: A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Archer Aviation by 4.5% in the first quarter.
BlackRock Inc. now owns 11,884,417 shares of the company's stock valued at $33,989,000 after purchasing an additional 508,332 shares during the last quarter. State Street Corp lifted its holdings in Archer Aviation by 9.3% during the 3rd quarter. State Street Corp now owns 7,613,771 shares of the company's stock worth $19,872,000 after buying an additional 649,634 shares during the last quarter.
Nikko Asset Management Americas Inc. lifted its holdings in Archer Aviation by 40.5% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,141,005 shares of the company's stock worth $19,995,000 after buying an additional 2,057,901 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc.
lifted its holdings in Archer Aviation by 40.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,125,147 shares of the company's stock worth $20,378,000 after buying an additional 2,042,043 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Archer Aviation by 6.0% during the 3rd quarter.
Vanguard Group Inc. now owns 6,203,701 shares of the company's stock worth $16,192,000 after buying an additional 353,606 shares during the last quarter. Hedge funds and other institutional investors own 45.07% of the company's stock. Insider Activity at Archer Aviation In other news, insider Andy Missan sold 12,500 shares of Archer Aviation stock in a transaction on Friday, August 18th.
The stock was sold at an average price of $6.21, for a total transaction of $77,625.00. Following the transaction, the insider now directly owns 251,384 shares in the company, valued at approximately $1,561,094.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
In other news, COO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $4.50, for a total transaction of $562,500.00. Following the transaction, the chief operating officer now directly owns 1,245,333 shares in the company, valued at approximately $5,603,998.50.
The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andy Missan sold 12,500 shares of Archer Aviation stock in a transaction on Friday, August 18th. The shares were sold at an average price of $6.21, for a total value of $77,625.00. Following the transaction, the insider now owns 251,384 shares in the company, valued at $1,561,094.64.
The disclosure for this sale can be found here. Insiders have sold a total of 260,000 shares of company stock worth $1,409,600 in the last three months. 27.17% of the stock is owned by company insiders. Wall Street Analysts Forecast Growth A number of research analysts have commented on the company.
Canaccord Genuity Group assumed coverage on Archer Aviation in a report on Friday, June 9th. They set a "buy" rating and a $9.00 target price on the stock. Benchmark reaffirmed a "buy" rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 11th. Raymond James increased their price target on Archer Aviation from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 22nd.
Finally, JPMorgan Chase & Co. increased their price target on Archer Aviation from $6.00 to $8.00 and gave the stock an "overweight" rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock.
According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.30. Read Our Latest Analysis on Archer Aviation Archer Aviation Stock Performance ACHR traded down $0.16 during trading hours on Friday, hitting $6.45. The company's stock had a trading volume of 14,479,247 shares, compared to its average volume of 4,853,760.
Archer Aviation Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $7.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.65 billion, a PE ratio of -3.30 and a beta of 2.43. The company has a 50-day simple moving average of $5.88 and a 200 day simple moving average of $3.93. Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, August 10th.
The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.30). As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.62 EPS for the current year. 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 San Jose, California. Featured Stories 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). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com. Before you consider Archer Aviation, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
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