Hennion & Walsh Asset Management Inc. Purchases 13,377 Shares of Archer Aviation Inc. (NYSE:ACHR)

Hennion & Walsh Asset Management Inc. lifted its position in Archer Aviation Inc. (NYSE:ACHR) by 40.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 46,058 shares of the company’s stock after buying an additional 13,377 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Archer Aviation were worth $162,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ACHR. Charles Schwab Investment Management Inc. boosted its position in Archer Aviation by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock worth $8,513,000 after purchasing an additional 228,487 shares during the period. Alpine Global Management LLC bought a new stake in Archer Aviation during the first quarter worth approximately $5,782,000. Intellectus Partners LLC boosted its position in shares of Archer Aviation by 136.1% in the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after acquiring an additional 523,024 shares during the period. Raymond James & Associates boosted its position in shares of Archer Aviation by 44.4% in the second quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock valued at $2,201,000 after acquiring an additional 192,120 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $3,825,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ACHR shares. Barclays cut their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a research note on Friday, May 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th.

Insider Transactions at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 27.17% of the company’s stock.

Archer Aviation Price Performance

Shares of ACHR stock opened at $3.69 on Friday. The stock’s fifty day moving average is $4.02 and its 200-day moving average is $4.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. The stock has a market capitalization of $1.19 billion, a PE ratio of -2.26 and a beta of 2.35. Archer Aviation Inc. has a 52 week low of $3.00 and a 52 week high of $7.49.

About Archer Aviation

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.