Fiduciary Alliance LLC Has $149,000 Stake in Archer Aviation Inc. $ACHR

Fiduciary Alliance LLC boosted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 27.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,755 shares of the company’s stock after buying an additional 2,950 shares during the quarter. Fiduciary Alliance LLC’s holdings in Archer Aviation were worth $149,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ACHR. Vanguard Group Inc. increased its position in Archer Aviation by 19.7% during the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock worth $140,275,000 after buying an additional 3,249,106 shares during the last quarter. Nuveen LLC bought a new stake in Archer Aviation during the first quarter valued at about $22,423,000. Wellington Management Group LLP bought a new stake in Archer Aviation during the fourth quarter valued at about $15,912,000. Infinitum Asset Management LLC bought a new stake in Archer Aviation during the fourth quarter valued at about $10,844,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Archer Aviation by 36.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,105,423 shares of the company’s stock valued at $22,080,000 after acquiring an additional 827,893 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

NYSE ACHR opened at $9.90 on Friday. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of -7.33 and a beta of 3.07. The company has a 50 day moving average of $9.86 and a 200-day moving average of $9.35. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92.

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 the consensus estimate of ($0.24) by ($0.12). On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Insider Activity

In related news, insider Eric Lentell sold 48,936 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares of the company’s stock, valued at $467,101.94. This trade represents a 50.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the sale, the insider directly owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,964 shares of company stock worth $2,865,206. Corporate insiders own 7.65% of the company’s stock.

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.