Watts Gwilliam & Co. LLC Buys 84,400 Shares of Archer Aviation Inc. $ACHR

Key Points

• Watts Gwilliam & Co. LLC increased its position in Archer Aviation Inc. by 524.2%, acquiring a total of 100,500 shares worth approximately $715,000.
• Archer Aviation reported a loss of ($0.36) earnings per share for the most recent quarter, missing analysts' expectations.
• Institutional investors now hold 59.34% of Archer Aviation's stock, reflecting strong interest from major funds like Vanguard Group Inc. and Nuveen Asset Management.

Watts Gwilliam & Co. LLC increased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 524.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,500 shares of the company's stock after purchasing an additional 84,400 shares during the period. Watts Gwilliam & Co. LLC's holdings in Archer Aviation were worth $715,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its position in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after acquiring an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the 4th quarter valued at $27,000. Tidemark LLC grew its holdings in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after buying an additional 2,000 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Archer Aviation in the 1st quarter valued at $31,000. Finally, ORG Partners LLC acquired a new position in shares of Archer Aviation in the 1st quarter valued at $32,000. Institutional investors own 59.34% of the company's stock.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 86,133 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the sale, the insider owned 295,337 shares of the company's stock, valued at $2,903,162.71. This trade represents a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,964 shares of company stock valued at $2,865,206. Company insiders own 7.65% of the company's stock.

Wall Street Analyst Weigh In

ACHR has been the subject of several research analyst reports. UBS Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reissued a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Stock Up 4.2%

Shares of Archer Aviation stock traded up $0.3950 during trading hours on Friday, reaching $9.7750. 16,283,018 shares of the company's stock were exchanged, compared to its average volume of 32,847,684. The company has a 50 day moving average of $10.42 and a two-hundred day moving average of $9.39. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week 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 has a market cap of $5.37 billion, a P/E ratio of -7.25 and a beta of 3.08.

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). On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.