Brookstone Capital Management Buys Shares of 10,418 Archer Aviation Inc. $ACHR

Brookstone Capital Management bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,418 shares of the company’s stock, valued at approximately $113,000.

A number of other institutional investors also recently modified their holdings of ACHR. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Archer Aviation during the 1st quarter valued at $176,000. Janney Montgomery Scott LLC lifted its stake in shares of 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 purchasing an additional 31,933 shares during the last quarter. KBC Group NV acquired a new stake in shares of Archer Aviation in the 1st quarter valued at $136,000. Amalgamated Bank lifted its stake in shares of Archer Aviation by 39.8% in the 1st quarter. Amalgamated Bank now owns 11,132 shares of the company’s stock valued at $79,000 after purchasing an additional 3,171 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Archer Aviation in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric Lentell sold 48,936 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the transaction, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. The trade was a 50.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 188,068 shares of company stock worth $1,848,708. Insiders own 7.65% of the company’s stock.

Archer Aviation Stock Performance

Shares of ACHR opened at $11.17 on Thursday. The company has a market capitalization of $7.21 billion, a PE ratio of -8.28 and a beta of 3.06. Archer Aviation Inc. has a one year low of $3.08 and a one year 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 company’s fifty day moving average price is $10.21 and its 200 day moving average price is $10.11.

Archer Aviation (NYSE:ACHR) last announced its 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). As a group, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACHR shares. JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.43.

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.