Cerity Partners LLC Sells 16,109 Shares of Archer Aviation Inc. (NYSE:ACHR)

Cerity Partners LLC cut its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 7.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,884 shares of the company’s stock after selling 16,109 shares during the period. Cerity Partners LLC’s holdings in Archer Aviation were worth $1,499,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ACHR. California State Teachers Retirement System lifted its position in shares of Archer Aviation by 26.2% during the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock worth $2,354,000 after buying an additional 50,104 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Archer Aviation by 64.2% during the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company’s stock valued at $581,000 after acquiring an additional 31,933 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Archer Aviation in the first quarter valued at approximately $391,000. GF Fund Management CO. LTD. bought a new position in Archer Aviation during the 1st quarter valued at approximately $369,000. Finally, Vanguard Group Inc. lifted its stake in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares during the period. 59.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ACHR. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target (up previously from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. Finally, UBS Group reiterated a “buy” rating on shares of Archer Aviation in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.13.

Archer Aviation Price Performance

Shares of ACHR opened at $11.84 on Tuesday. The company has a 50 day moving average of $10.74 and a 200-day moving average of $9.28. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $6.50 billion, a P/E ratio of -9.03 and a beta of 3.10. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 80,919 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the sale, the chief technology officer owned 1,253,294 shares of the company’s stock, valued at $16,280,289.06. The trade was a 6.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,960 shares of company stock worth $4,441,519. 7.65% of the stock is owned by company insiders.

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.