Archer Aviation Inc. $ACHR Shares Sold by Optimize Financial Inc

Key Points

• Optimize Financial Inc has decreased its stake in Archer Aviation by 57.0%, holding only 28,425 shares worth approximately $202,000 after selling 37,645 shares in the first quarter.
• Insider sales include CFO Priya Gupta selling 10,224 shares and another insider, Tosha Perkins, selling 42,775 shares, reflecting significant ownership reductions by both parties.
• Analysts maintain a positive outlook on Archer Aviation, with multiple firms giving a buy rating and target prices ranging from $10.00 to $18.00, indicating potential for price appreciation.

Optimize Financial Inc lessened its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 57.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,425 shares of the company's stock after selling 37,645 shares during the period. Optimize Financial Inc's holdings in Archer Aviation were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Arete Wealth Advisors LLC grew its stake in Archer Aviation by 81.4% during the 1st quarter. Arete Wealth Advisors LLC now owns 91,111 shares of the company's stock valued at $648,000 after acquiring an additional 40,875 shares in the last quarter. NewEdge Advisors LLC grew its stake in Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after acquiring an additional 1,738 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company's stock valued at $1,366,000 after acquiring an additional 59,317 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Archer Aviation by 11.1% during the 1st 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 in the last quarter. Finally, Granahan Investment Management LLC grew its stake in Archer Aviation by 31.8% during the 1st quarter. Granahan Investment Management LLC now owns 2,800,177 shares of the company's stock valued at $19,909,000 after acquiring an additional 676,013 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analyst Weigh In

ACHR has been the subject of several research reports. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $13.43.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 42,775 shares of the company'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 transaction, the insider directly owned 295,337 shares in the company, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,964 shares of company stock valued at $2,865,206. 7.65% of the stock is owned by insiders.

Archer Aviation Trading Up 2.9%

Shares of ACHR stock traded up $0.24 during trading hours on Thursday, hitting $8.49. The company had a trading volume of 27,277,037 shares, compared to its average volume of 20,531,202. The company's fifty day moving average is $10.00 and its 200 day moving average is $9.31. 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 Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $13.92. The stock has a market capitalization of $5.48 billion, a PE ratio of -6.29 and a beta of 3.07.

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

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.