Wealth Enhancement Advisory Services LLC Has $294,000 Stock Position in Archer Aviation Inc. $ACHR

Wealth Enhancement Advisory Services LLC grew its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 16.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,947 shares of the company’s stock after acquiring an additional 4,156 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Archer Aviation were worth $294,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ACHR. Kestra Private Wealth Services LLC raised its stake in Archer Aviation by 8.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock valued at $121,000 after acquiring an additional 1,358 shares during the period. Integrated Wealth Concepts LLC increased 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 buying an additional 1,373 shares during the period. CWM LLC increased its position in Archer Aviation by 13.6% during the 1st quarter. CWM LLC now owns 12,133 shares of the company’s stock worth $86,000 after buying an additional 1,451 shares during the period. Allworth Financial LP increased its position in Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after buying an additional 1,664 shares during the period. Finally, Texas Yale Capital Corp. increased its position in Archer Aviation by 6.1% during the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company’s stock worth $209,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Priya Gupta sold 10,224 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the sale, the chief financial officer directly owned 147,153 shares of the company’s stock, valued at $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider directly owned 47,518 shares in the company, valued at $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ACHR shares. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, Cantor Fitzgerald restated an “overweight” 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, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $13.43.

Archer Aviation Stock Performance

NYSE:ACHR opened at $12.44 on Thursday. The stock’s 50-day simple moving average is $9.64 and its 200 day simple moving average is $9.60. The firm has a market capitalization of $8.02 billion, a PE ratio of -9.21 and a beta of 3.06. 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 twelve month low of $2.85 and a twelve month high of $13.92.

Archer Aviation (NYSE:ACHR) last released 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, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.