Arete Wealth Advisors LLC Boosts Stock Position in Archer Aviation Inc. $ACHR

Key Points

• Arete Wealth Advisors LLC increased its stake in Archer Aviation by 81.4%, owning 91,111 shares worth $648,000 after purchasing an additional 40,875 shares in Q1 2023.
• Insiders, including CFO Priya Gupta, sold a total of 283,964 shares in the past 90 days, indicating a decrease in their positions.
• Despite a recent earnings miss, several analysts have maintained "buy" ratings on Archer Aviation, with price targets ranging from $13.00 to $18.00.

Arete Wealth Advisors LLC lifted its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 81.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,111 shares of the company's stock after purchasing an additional 40,875 shares during the quarter. Arete Wealth Advisors LLC's holdings in Archer Aviation were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after purchasing an additional 3,249,106 shares in the last quarter. Alpine Global Management LLC lifted its stake in shares of Archer Aviation by 16.7% in the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company's stock valued at $30,583,000 after acquiring an additional 615,481 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Archer Aviation by 455.3% in the 4th quarter. Nuveen Asset Management LLC now owns 3,241,496 shares of the company's stock valued at $31,605,000 after acquiring an additional 2,657,726 shares during the last quarter. Nuveen LLC bought a new stake in shares of Archer Aviation in the 1st quarter valued at about $22,423,000. Finally, Northern Trust Corp lifted its stake in shares of Archer Aviation by 32.5% in the 1st quarter. Northern Trust Corp now owns 3,108,457 shares of the company's stock valued at $22,101,000 after acquiring an additional 762,398 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares of the company's stock, valued at $2,903,162.71. This represents a 12.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 283,964 shares of company stock worth $2,865,206. 7.65% of the stock is currently owned by company insiders.

Archer Aviation Trading Down 0.9%

ACHR opened at $8.43 on Wednesday. The business has a 50 day simple moving average of $10.07 and a two-hundred day simple moving average of $9.32. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of -6.24 and a beta of 3.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ACHR shares. HC Wainwright reissued a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reissued an "overweight" 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 and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.43.

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.

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