Bosun Asset Management LLC Increases Holdings in Archer Aviation Inc. $ACHR

Key Points

• Bosun Asset Management LLC increased its holdings in Archer Aviation by 36.0%, acquiring an additional 34,607 shares, bringing its total to 130,822 shares, valued at approximately $930,000.
• Analysts have a consensus rating of "Moderate Buy" for Archer Aviation, with target prices ranging from $10.00 to $18.00.
• Insiders at Archer Aviation have sold significant shares recently, with the total insider sale amounting to 283,964 shares valued at around $2.86 million.

Bosun Asset Management LLC increased its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,822 shares of the company's stock after acquiring an additional 34,607 shares during the period. Bosun Asset Management LLC's holdings in Archer Aviation were worth $930,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. EP Wealth Advisors LLC boosted its holdings in shares of Archer Aviation by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after acquiring an additional 1,000 shares during the period. Kestra Private Wealth Services LLC boosted 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 worth $121,000 after acquiring an additional 1,358 shares during the period. CWM LLC raised its position in shares of Archer Aviation by 13.6% in the first quarter. CWM LLC now owns 12,133 shares of the company's stock worth $86,000 after buying an additional 1,451 shares in the last quarter. Allworth Financial LP raised its position in shares of Archer Aviation by 87.0% in 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 in the last quarter. Finally, Texas Yale Capital Corp. raised its position in shares of Archer Aviation by 6.1% in the first quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company's stock worth $209,000 after buying an additional 1,700 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Insider Transactions at Archer Aviation

In related news, CFO Priya Gupta sold 10,224 shares of the business'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 completion of the transaction, the chief financial officer directly owned 147,153 shares in the company, valued at $1,446,513.99. The trade was a 6.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Lentell sold 48,936 shares of the business'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 $481,040.88. Following the completion of the transaction, the insider owned 47,518 shares of the company's stock, valued at approximately $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,964 shares of company stock valued at $2,865,206. Insiders own 7.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ACHR shares. HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Down 0.9%

Shares of ACHR traded down $0.08 during trading hours on Monday, hitting $8.43. The company had a trading volume of 7,694,734 shares, compared to its average volume of 32,124,066. The firm has a market cap of $5.43 billion, a P/E ratio of -6.26 and a beta of 3.07. The stock's 50 day moving average price is $10.15 and its 200 day moving average price is $9.33. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $13.92.

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

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.