Moody National Bank Trust Division Grows Position in Archer Aviation Inc. (NYSE:ACHR)

Moody National Bank Trust Division increased its position in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 60.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,134 shares of the company's stock after purchasing an additional 63,184 shares during the quarter. Moody National Bank Trust Division's holdings in Archer Aviation were worth $1,195,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ACHR. PFG Investments LLC increased its stake in shares of Archer Aviation by 16.3% in the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company's stock worth $223,000 after acquiring an additional 3,192 shares during the last quarter. Dumont & Blake Investment Advisors LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $160,000. Spire Wealth Management boosted its stake in shares of Archer Aviation by 266.7% in the 4th quarter. Spire Wealth Management now owns 16,500 shares of the company's stock valued at $161,000 after buying an additional 12,000 shares during the period. River Street Advisors LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $195,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded up $0.08 on Tuesday, hitting $9.81. 15,003,055 shares of the company were exchanged, compared to its average volume of 23,584,022. The firm has a market capitalization of $5.39 billion, a P/E ratio of -7.43 and a beta of 3.13. The stock's 50 day moving average price is $8.70 and its 200 day moving average price is $8.70. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.04. Sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Raymond James lifted their price target on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Friday, May 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.50.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 34,498 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. The trade was a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Priya Gupta sold 13,210 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $171,597.90. Following the completion of the transaction, the chief financial officer now directly owns 134,104 shares of the company's stock, valued at $1,742,010.96. This represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 451,859 shares of company stock worth $4,627,418 in the last ninety days. 7.65% of the stock is owned by insiders.

About Archer Aviation

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.