UMB Bank n.a. Raises Holdings in Archer Aviation Inc. $ACHR

UMB Bank n.a. increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 3,330.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,575 shares of the company’s stock after acquiring an additional 8,325 shares during the period. UMB Bank n.a.’s holdings in Archer Aviation were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ACHR. Moody National Bank Trust Division grew its stake in shares of Archer Aviation by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after purchasing an additional 1,211 shares during the period. Kestra Private Wealth Services LLC grew its position in Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock valued at $121,000 after buying an additional 1,358 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. CWM LLC increased its holdings in Archer Aviation by 13.6% in the first quarter. CWM LLC now owns 12,133 shares of the company’s stock valued at $86,000 after buying an additional 1,451 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after acquiring an additional 1,664 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Archer Aviation stock opened at $9.73 on Thursday. The company has a fifty day simple moving average of $9.76 and a 200-day simple moving average of $9.40. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of -7.20 and a beta of 3.07. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results 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 anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. increased their target price on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, UBS Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.43.

Insider Buying and Selling

In other news, CFO Priya Gupta sold 10,224 shares of the company’s stock in a transaction that occurred 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 directly owned 147,153 shares in the company, valued at $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the transaction, the insider owned 295,337 shares in the company, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is currently owned by company insiders.

Archer Aviation 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.