Integrity Alliance LLC. bought a new position in Archer Aviation Inc. (NYSE:ACHR – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor bought 12,970 shares of the company’s stock, valued at approximately $92,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Archer Aviation by 87.0% in 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 last quarter. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation in the 4th quarter worth $27,000. Tidemark LLC boosted its stake in shares of 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 buying an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Archer Aviation in the 1st quarter worth $31,000. Finally, ORG Partners LLC purchased a new position in shares of Archer Aviation in the 1st quarter worth $32,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.
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Archer Aviation Trading Up 3.2%
Shares of ACHR stock opened at $8.76 on Monday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $9.98 and its 200-day moving average price is $9.33. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of -6.49 and a beta of 3.07.
Archer Aviation (NYSE:ACHR – Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insider Transactions at Archer Aviation
In other news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the sale, the chief technology officer directly owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation 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 completion of the sale, the chief financial officer directly owned 147,153 shares in the company, valued at $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
ACHR has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. UBS Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Finally, Canaccord Genuity Group reiterated a “buy” 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 and one has issued a Hold rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $13.43.
View Our Latest Analysis on ACHR
About Archer Aviation
(Free Report)
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.
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