Parallel Advisors LLC Has $142,000 Holdings in Archer Aviation Inc. $ACHR

Parallel Advisors LLC boosted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 167.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,073 shares of the company’s stock after acquiring an additional 8,176 shares during the quarter. Parallel Advisors LLC’s holdings in Archer Aviation were worth $142,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Kestra Private Wealth Services LLC boosted its position in Archer Aviation by 8.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock worth $121,000 after acquiring an additional 1,358 shares during the period. Integrated Wealth Concepts LLC boosted its position in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares during the period. CWM LLC lifted its holdings in shares of Archer Aviation by 13.6% during the 1st quarter. CWM LLC now owns 12,133 shares of the company’s stock valued at $86,000 after buying an additional 1,451 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after buying an additional 1,664 shares during the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in shares of Archer Aviation by 6.1% during the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company’s stock valued at $209,000 after buying an additional 1,700 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Shares of ACHR stock opened at $10.01 on Wednesday. The stock’s fifty day simple moving average is $9.81 and its 200 day simple moving average is $9.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The firm has a market cap of $6.45 billion, a price-to-earnings ratio of -7.41 and a beta of 3.07. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACHR. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an “overweight” 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 report on Thursday, July 17th. Canaccord Genuity Group reiterated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Insider Buying and Selling

In related news, insider Eric Lentell sold 48,936 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider owned 47,518 shares of the company’s stock, valued at $467,101.94. The trade was a 50.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the sale, the insider directly owned 295,337 shares in the company, 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. Insiders sold 283,964 shares of company stock worth $2,865,206 in the last quarter. Corporate insiders own 7.65% of the company’s stock.

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.