Matauro LLC Has $4.15 Million Position in Archer Aviation Inc. $ACHR

Key Points

• Matauro LLC reduced its stake in Archer Aviation Inc. by 12.2% in Q2 2023, holding approximately $4.15 million worth of shares.
• Archer Aviation experienced a share price fluctuation with a 12-month low of $2.85 and a high of $13.92, opening at $10.20 recently.
• Currently, the stock has a consensus rating of "Moderate Buy" from analysts, with an average price target of $13.43.

Matauro LLC lowered its position in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 12.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,884 shares of the company's stock after selling 53,078 shares during the quarter. Archer Aviation accounts for approximately 0.8% of Matauro LLC's investment portfolio, making the stock its 24th largest position. Matauro LLC owned approximately 0.07% of Archer Aviation worth $4,154,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after acquiring an additional 1,106 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Archer Aviation by 0.7% in the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after acquiring an additional 1,211 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Archer Aviation by 8.7% in the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock valued at $121,000 after acquiring an additional 1,358 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock valued at $98,000 after acquiring an additional 1,373 shares during the last quarter. Finally, CWM LLC boosted its holdings in Archer Aviation by 13.6% in the first quarter. CWM LLC now owns 12,133 shares of the company's stock valued at $86,000 after acquiring an additional 1,451 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Price Performance

Shares of ACHR opened at $10.20 on Friday. Archer Aviation Inc. has a 12-month low of $2.85 and a 12-month high of $13.92. The business's fifty day moving average is $9.48 and its 200 day moving average is $9.49. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.58 billion, a P/E ratio of -7.55 and a beta of 3.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results 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). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 42,775 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the transaction, the insider directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,068 shares of company stock valued at $1,848,708 in the last 90 days. 7.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

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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