42,830 Shares in Archer Aviation Inc. $ACHR Purchased by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,830 shares of the company's stock, valued at approximately $465,000.

Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Archer Aviation by 87.0% during the first 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. Strs Ohio bought a new stake in Archer Aviation during the first quarter worth about $27,000. Tidemark LLC grew its stake in Archer Aviation by 100.0% during the first 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 bought a new stake in Archer Aviation during the first quarter worth about $31,000. Finally, ORG Partners LLC bought a new stake in Archer Aviation during the first quarter worth about $32,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Price Performance

Shares of ACHR stock opened at $11.95 on Friday. Archer Aviation Inc. has a 52-week low of $2.93 and a 52-week high of $13.92. The stock has a market cap of $7.71 billion, a PE ratio of -8.85 and a beta of 3.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The firm's 50 day moving average price is $9.74 and its two-hundred day moving average price is $9.65.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

ACHR has been the topic of several research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday. JPMorgan Chase & Co. increased their price target 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. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, UBS Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.43.

Insider Activity

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the sale, the chief financial officer directly owned 147,153 shares in the company, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Lentell sold 48,936 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. This trade represents a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by company insiders.

Archer Aviation 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.

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