Blair William & Co. IL Sells 373,184 Shares of Archer Aviation Inc. $ACHR

Key Points

• Blair William & Co. IL sold 373,184 shares of Archer Aviation Inc. (ACHR), reducing its stake by 82.7%, leaving it with 78,100 shares valued at approximately $847,000.
• Despite the sale by Blair William, other institutional investors like Farther Finance Advisors LLC increased their holdings in Archer Aviation by 45.7% during the second quarter.
• Archer Aviation's CFO, Priya Gupta, and another insider, Eric Lentell, sold significant shares totaling over $581,000, indicating a combined ownership reduction of more than 50% for both individuals.

Blair William & Co. IL trimmed its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 82.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,100 shares of the company's stock after selling 373,184 shares during the period. Blair William & Co. IL's holdings in Archer Aviation were worth $847,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after purchasing an additional 1,106 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Archer Aviation by 0.7% in the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after purchasing an additional 1,211 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Archer Aviation by 8.7% in the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after purchasing an additional 1,358 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock valued at $98,000 after purchasing an additional 1,373 shares in the last quarter. Finally, CWM LLC raised its holdings in Archer Aviation by 13.6% during the first quarter. CWM LLC now owns 12,133 shares of the company's stock worth $86,000 after acquiring an additional 1,451 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,224 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 value of $100,501.92. Following the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Lentell sold 48,936 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 $481,040.88. Following the completion of the sale, the insider owned 47,518 shares in the company, valued at $467,101.94. This represents a 50.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,068 shares of company stock worth $1,848,708 over the last ninety days. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Price Performance

NYSE:ACHR opened at $11.86 on Friday. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock's 50 day moving average price is $9.94 and its two-hundred day moving average price is $9.79. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -8.79 and a beta of 3.06. Archer Aviation Inc. has a 12-month low of $2.98 and a 12-month high of $14.62.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data 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, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ACHR shares. Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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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