Integrity Alliance LLC. Buys New Holdings in Archer Aviation Inc. $ACHR

Integrity Alliance LLC. bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,970 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors also recently bought and sold shares of ACHR. Comerica Bank boosted its holdings in Archer Aviation by 113.2% during the 4th quarter. Comerica Bank now owns 4,076 shares of the company’s stock valued at $40,000 after acquiring an additional 2,164 shares during the period. Ameriprise Financial Inc. boosted its holdings in Archer Aviation by 106.4% during the 4th quarter. Ameriprise Financial Inc. now owns 45,902 shares of the company’s stock valued at $448,000 after acquiring an additional 23,661 shares during the period. Captrust Financial Advisors boosted its holdings in Archer Aviation by 48.1% during the 4th quarter. Captrust Financial Advisors now owns 10,787 shares of the company’s stock valued at $105,000 after acquiring an additional 3,501 shares during the period. Deutsche Bank AG boosted its holdings in Archer Aviation by 49.1% during the 4th quarter. Deutsche Bank AG now owns 208,499 shares of the company’s stock valued at $2,033,000 after acquiring an additional 68,676 shares during the period. Finally, Ethic Inc. boosted its holdings in Archer Aviation by 13.2% during the 4th quarter. Ethic Inc. now owns 19,582 shares of the company’s stock valued at $191,000 after acquiring an additional 2,282 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACHR. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. upped their price target on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $13.43.

Insider Buying and Selling

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares of the company’s stock, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Eric Lentell sold 95,896 shares of Archer Aviation stock in a transaction on Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock worth $2,865,206 in the last 90 days. Corporate insiders own 7.65% of the company’s stock.

Archer Aviation Stock Up 3.2%

ACHR stock opened at $8.76 on Monday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.65 billion, a PE ratio of -6.49 and a beta of 3.07. The business has a 50 day moving average of $9.98 and a 200 day moving average of $9.33.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). On average, research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.