CreativeOne Wealth LLC Reduces Position in Archer Aviation Inc. $ACHR

CreativeOne Wealth LLC decreased its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 73.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,838 shares of the company's stock after selling 62,304 shares during the period. CreativeOne Wealth LLC's holdings in Archer Aviation were worth $162,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of Archer Aviation by 26.2% in the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after buying an additional 50,104 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Archer Aviation by 47.6% in the 1st quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock valued at $712,000 after buying an additional 32,300 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Archer Aviation by 429.6% in the 1st quarter. Private Advisor Group LLC now owns 272,072 shares of the company's stock valued at $1,934,000 after buying an additional 220,696 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of Archer Aviation by 704.2% in the 1st quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after buying an additional 314,844 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Archer Aviation by 42.4% in the 1st quarter. Swiss National Bank now owns 728,900 shares of the company's stock valued at $5,182,000 after buying an additional 217,200 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ACHR. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, UBS Group reiterated 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 given a Hold rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Stock Down 2.6%

Shares of NYSE:ACHR opened at $8.38 on Thursday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The stock has a market cap of $5.40 billion, a P/E ratio of -6.20 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. The firm has a fifty day moving average price of $10.23 and a 200 day moving average price of $9.36.

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

Insider Activity

In other news, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the sale, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of Archer Aviation 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 directly owned 295,337 shares in the company, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock worth $2,865,206 in the last ninety days. 7.65% of the stock is currently owned by insiders.

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.

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