Burr Financial Services LLC Purchases New Holdings in Archer Aviation Inc. $ACHR

Key Points

• Burr Financial Services LLC made a new investment in Archer Aviation Inc. by acquiring 40,405 shares, worth approximately $438,000, positioning the stock as the firm's 20th largest holding.
• Archer Aviation stock saw a 4.5% increase and reported a loss of ($0.36) EPS for the last quarter, missing analysts' estimates.
• Several investment analysts reaffirmed a "buy" rating" for Archer Aviation, with a consensus price target of $13.43, indicating positive expectations for future growth.

Burr Financial Services LLC purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,405 shares of the company's stock, valued at approximately $438,000. Archer Aviation makes up approximately 0.4% of Burr Financial Services LLC's investment portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also recently made changes to their positions in ACHR. Allworth Financial LP lifted its holdings in Archer Aviation by 87.0% during the 1st 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. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. Strs Ohio acquired a new stake in shares of Archer Aviation in the first quarter valued at $27,000. Tidemark LLC boosted its holdings in Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Archer Aviation during the 1st quarter worth $31,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Stock Performance

ACHR traded up $0.02 on Tuesday, reaching $9.14. The company had a trading volume of 31,066,115 shares, compared to its average volume of 21,579,840. 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 1 year low of $2.82 and a 1 year high of $13.92. The stock has a market capitalization of $5.90 billion, a PE ratio of -6.77 and a beta of 3.07. The stock has a 50-day moving average price of $9.93 and a 200-day moving average price of $9.33.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its 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). As a group, research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Priya Gupta sold 10,224 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,964 shares of company stock worth $2,865,206. 7.65% of the stock is currently owned by corporate insiders.

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.