Stifel Financial Corp Has $1.39 Million Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Stifel Financial Corp grew its holdings in Archer Aviation Inc. (NYSE:ACHR) by 574.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 459,171 shares of the company’s stock after purchasing an additional 391,092 shares during the period. Stifel Financial Corp owned about 0.13% of Archer Aviation worth $1,391,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Miller Wealth Advisors LLC acquired a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC purchased a new position in shares of Archer Aviation during the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation in the third quarter worth $31,000. Hollencrest Capital Management raised its holdings in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new stake in Archer Aviation during the third quarter valued at $36,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. 9.75% of the stock is owned by insiders.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $9.49 on Friday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $5.48 and a 200-day simple moving average of $4.30. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $10.58.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the business earned ($0.19) EPS. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.

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.