Cwm LLC Raises Stock Holdings in Archer Aviation Inc. $ACHR

Cwm LLC lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 23.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,981 shares of the company’s stock after purchasing an additional 2,848 shares during the quarter. Cwm LLC’s holdings in Archer Aviation were worth $163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after acquiring an additional 1,106 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Archer Aviation by 0.7% in 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 in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Archer Aviation by 8.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock worth $121,000 after purchasing an additional 1,358 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares in the last quarter. Finally, PFG Investments LLC boosted its holdings in shares of Archer Aviation by 6.4% in the 2nd quarter. PFG Investments LLC now owns 26,891 shares of the company’s stock worth $292,000 after purchasing an additional 1,620 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Archer Aviation Trading Down 1.9%

Shares of ACHR opened at $10.97 on Friday. 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 fifty day simple moving average of $10.24 and a two-hundred day simple moving average of $10.11. Archer Aviation Inc. has a twelve month low of $3.08 and a twelve month high of $14.62.

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

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the 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 $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the firm’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 $100,501.92. Following the completion of the sale, the chief financial officer directly owned 147,153 shares of the company’s stock, valued at $1,446,513.99. The trade was a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, 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.