Bulltick Wealth Management LLC Invests $1.20 Million in Archer Aviation Inc. (NYSE:ACHR)

Bulltick Wealth Management LLC acquired a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 122,700 shares of the company's stock, valued at approximately $1,196,000.

Several other large investors have also modified their holdings of ACHR. Conquis Financial LLC acquired a new stake in shares of Archer Aviation in the fourth quarter worth $29,000. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the period. Oarsman Capital Inc. boosted its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its holdings in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Trading Up 0.2 %

ACHR stock traded up $0.02 during midday trading on Wednesday, hitting $8.55. 12,591,894 shares of the company's stock were exchanged, compared to its average volume of 21,461,768. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The stock's fifty day moving average price is $7.71 and its 200-day moving average price is $7.75. The company has a market cap of $4.64 billion, a PE ratio of -6.47 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. Research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on ACHR shares. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Monday, April 21st. Finally, Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Archer Aviation presently has an average rating of "Moderate Buy" and a consensus price target of $11.61.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now owns 232,396 shares of the company's stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 474,780 shares of company stock valued at $3,581,581. 9.75% of the stock is currently owned by corporate insiders.

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.