AE Wealth Management LLC Acquires New Position in Archer Aviation Inc. $ACHR

AE Wealth Management LLC acquired a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,674 shares of the company’s stock, valued at approximately $116,000.

Several other hedge funds also recently made changes to their positions in ACHR. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter valued at about $27,000. Tidemark LLC grew its position in Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Archer Aviation in the first quarter valued at approximately $31,000. Finally, GAMMA Investing LLC raised its holdings in shares of Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after buying an additional 2,024 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ACHR shares. Cantor Fitzgerald set a $13.00 target price on shares of Archer Aviation in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC cut their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. lowered their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.57.

Archer Aviation Trading Up 2.2%

Shares of NYSE ACHR opened at $7.59 on Wednesday. Archer Aviation Inc. has a one year low of $4.33 and a one year high of $14.62. The firm has a market capitalization of $4.94 billion, a PE ratio of -6.02 and a beta of 3.07. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $10.23.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). As a group, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric Lentell sold 41,490 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the transaction, the insider owned 83,733 shares in the company, valued at approximately $627,160.17. This trade represents a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 over the last quarter. Company insiders own 7.65% of the company’s stock.

Archer Aviation Company 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.