GW Henssler & Associates Ltd. Acquires New Holdings in Archer Aviation Inc. $ACHR

Key Points

• GW Henssler & Associates Ltd. acquired 100,200 shares of Archer Aviation Inc. in Q1, totaling approximately $712,000.
• Archer Aviation shares are currently valued at $8.97, showing a significant decrease of 2.6% recently, with strong institutional ownership at 59.34%.
• The company reported a loss of ($0.36) EPS, missing analysts' expectations, and has an average target price of $13.43 from seven buy ratings.

GW Henssler & Associates Ltd. acquired a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 100,200 shares of the company's stock, valued at approximately $712,000.

A number of other hedge funds have also made changes to their positions in the stock. EP Wealth Advisors LLC grew its holdings in shares of Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after purchasing an additional 1,000 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock worth $121,000 after buying an additional 1,358 shares in the last quarter. CWM LLC increased its holdings in shares of 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 buying an additional 1,451 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Archer Aviation by 87.0% during 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 Archer Aviation by 6.1% in the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company's stock valued at $209,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. boosted their target price on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Trading Down 0.4%

Shares of Archer Aviation stock traded down $0.04 during trading hours on Friday, hitting $8.42. The company's stock had a trading volume of 12,352,123 shares, compared to its average volume of 32,237,646. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92. The stock has a 50 day moving average of $10.19 and a 200 day moving average of $9.35. The company has a market capitalization of $5.43 billion, a PE ratio of -6.26 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 (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Eric Lentell sold 95,896 shares of the firm'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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the firm'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 $420,478.25. Following the completion of the sale, the insider directly owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is currently owned by company 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.