Archer Aviation (ACHR) Stock: ARK Invest Buys $6 Million After Q3 Revenue Beat
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TLDR ARK Invest bought about $6.3 million of Archer stock across three funds, and the stock was up 3.18%. Q3 revenue hit $5.10 million, beating the $3.57 million estimate, while the loss was 35 cents per share. Cantor Fitzgerald cut its target to $10 and Needham cut to $7, and both kept buy ratings. The Midnight aircraft received an FAA market-survey certificate for piloted flights in Los Angeles. Insiders sold 176,657 stock units worth $1.12 million over the last 90 days. Archer Aviation (ACHR) stock was up 3.18% in the latest quote after ARK Invest added to its position. The buy was worth about $6.3 million at Tuesday’s close, or roughly $4.70 per unit. Archer Aviation Inc., ACHR Cathie Wood’s firm spread the purchase across three funds.
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