Fox Run Management L.L.C. Takes $147,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Fox Run Management L.L.C. bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,114 shares of the company’s stock, valued at approximately $147,000.

A number of other large investors have also added to or reduced their stakes in the business. Harbour Investments Inc. boosted its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares during the period. Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the period. US Bancorp DE lifted its position in Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after acquiring an additional 4,306 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in shares of Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.26 on Friday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -5.50 and a beta of 3.14. The firm has a 50 day simple moving average of $8.75 and a 200 day simple moving average of $6.84.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mark Mesler sold 62,258 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, the chief financial officer now owns 630,243 shares of the company’s stock, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. This trade represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is currently owned by corporate insiders.

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.