Sargent Investment Group LLC Trims Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Sargent Investment Group LLC cut its stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 45.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,030 shares of the company's stock after selling 130,000 shares during the period. Sargent Investment Group LLC's holdings in Archer Aviation were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after purchasing an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation during the 4th quarter worth $29,000. Harbour Investments Inc. increased its position in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. increased its position in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 0.9%

ACHR opened at $13.28 on Friday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The stock's fifty day moving average is $10.74 and its 200-day moving average is $9.28. The company has a market capitalization of $7.29 billion, a PE ratio of -10.14 and a beta of 3.10.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Ratings Changes

ACHR has been the subject of a number of analyst reports. UBS Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research note on Thursday. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $18.00 target price (up from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. Finally, Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.13.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 50,775 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 $659,567.25. Following the transaction, the chief financial officer owned 711,525 shares in the company, valued at approximately $9,242,709.75. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Eric Lentell sold 95,896 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The disclosure for this sale can be found here. Insiders have sold 376,960 shares of company stock valued at $4,441,519 over the last three months. 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.

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