Perfromance Wealth Partners LLC Invests $228,000 in Archer Aviation Inc. $ACHR

Key Points

• Performance Wealth Partners LLC invested $228,000 in Archer Aviation Inc. by acquiring 21,000 shares in the second quarter.
• Archer Aviation's stock has seen significant institutional interest, with several firms like GAMMA Investing LLC and Rhumbline Advisers increasing their stakes heavily in the first quarter.
• The company reported a quarterly earnings loss of ($0.36) per share, falling short of analysts' consensus estimate, as it anticipates an EPS of -1.32 for the current year.

Perfromance Wealth Partners LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 21,000 shares of the company's stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ACHR. GAMMA Investing LLC increased its position in Archer Aviation by 3,582.6% in the 1st quarter. GAMMA Investing LLC now owns 6,555 shares of the company's stock valued at $470,000 after acquiring an additional 6,377 shares during the period. Rhumbline Advisers increased its position in shares of Archer Aviation by 38.0% during the first quarter. Rhumbline Advisers now owns 430,920 shares of the company's stock worth $3,064,000 after buying an additional 118,598 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Archer Aviation during the first quarter worth $176,000. Janney Montgomery Scott LLC boosted its stake in Archer Aviation by 64.2% during the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock worth $581,000 after acquiring an additional 31,933 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Archer Aviation during the first quarter worth $32,000. Institutional investors own 59.34% of the company's stock.

Archer Aviation Trading Up 6.3%

Shares of ACHR opened at $12.73 on Tuesday. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of -9.43 and a beta of 3.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. Archer Aviation Inc. has a fifty-two week low of $2.98 and a fifty-two week high of $13.92. The firm has a 50 day moving average price of $9.78 and a 200-day moving average price of $9.71.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACHR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and an average target price of $13.43.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,936 shares of the company'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 $481,040.88. Following the completion of the transaction, the insider directly owned 47,518 shares in the company, valued at approximately $467,101.94. This represents a 50.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,068 shares of company stock valued at $1,848,708 over the last quarter. Company insiders own 7.65% of the company's stock.

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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