Concurrent Investment Advisors LLC Acquires Shares of 12,015 Archer Aviation Inc. $ACHR

Concurrent Investment Advisors LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,015 shares of the company’s stock, valued at approximately $130,000.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in Archer Aviation in the 1st quarter valued at about $176,000. Janney Montgomery Scott LLC raised its holdings in Archer Aviation by 64.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company’s stock valued at $581,000 after buying an additional 31,933 shares during the period. PFG Investments LLC raised its holdings in Archer Aviation by 10.7% in the 1st quarter. PFG Investments LLC now owns 25,271 shares of the company’s stock valued at $180,000 after buying an additional 2,450 shares during the period. AssuredPartners Investment Advisors LLC purchased a new stake in Archer Aviation in the 1st quarter valued at about $86,000. Finally, Western Wealth Management LLC purchased a new stake in Archer Aviation in the 1st quarter valued at about $82,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $11.41 on Wednesday. Archer Aviation Inc. has a 12 month low of $2.98 and a 12 month high of $14.62. 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 business has a 50 day simple moving average of $10.04 and a 200-day simple moving average of $9.91. The stock has a market capitalization of $7.36 billion, a PE ratio of -8.45 and a beta of 3.06.

Archer Aviation (NYSE:ACHR) last announced 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). Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ACHR shares. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group reissued a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. 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 report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $13.43.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 86,133 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 transaction of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares of the company’s stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,068 shares of company stock worth $1,848,708. 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.