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 filing with the Securities & Exchange Commission. The firm acquired 100,200 shares of the company's stock, valued at approximately $712,000.
Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in 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. Sunbelt Securities Inc. purchased a new stake in Archer Aviation in the 4th quarter worth approximately $27,000. Tidemark LLC raised its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Archer Aviation in the 1st quarter valued at $31,000. Finally, ORG Partners LLC acquired a new stake in shares of Archer Aviation in the 1st quarter valued at $32,000. 59.34% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on ACHR. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" 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 research note on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price target 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. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $13.43.
View Our Latest Report on Archer Aviation
Archer Aviation Trading Down 2.6%
NYSE:ACHR traded down $0.23 on Wednesday, hitting $8.38. 18,901,476 shares of the company's stock were exchanged, compared to its average volume of 26,290,248. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $10.23 and a 200-day moving average price of $9.36. 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). Equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Tosha Perkins sold 42,775 shares of the firm's 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 owned 295,337 shares in the company, valued at approximately $2,903,162.71. This trade represents a 12.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the sale, the chief technology officer directly owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 283,964 shares of company stock valued at $2,865,206. Corporate insiders own 7.65% of the company's stock.
About Archer Aviation
(
Free Report)
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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