Total Wealth Planning & Management Inc. Takes $450,000 Position in Archer Aviation Inc. (NYSE:ACHR)

Total Wealth Planning & Management Inc. acquired a new stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 46,145 shares of the company's stock, valued at approximately $450,000.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Archer Aviation in the fourth quarter worth about $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $29,000. Harbour Investments Inc. boosted its position in Archer Aviation by 54.7% during the fourth 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 period. Oarsman Capital Inc. boosted its position in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC boosted its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

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

Archer Aviation Trading Up 0.3%

Shares of Archer Aviation stock traded up $0.03 during midday trading on Wednesday, reaching $10.95. 36,303,765 shares of the company's stock traded hands, compared to its average volume of 23,439,200. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market cap of $6.01 billion, a PE ratio of -8.30 and a beta of 3.13. The stock has a 50 day moving average of $8.61 and a 200-day moving average of $8.53. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.04. As a group, equities analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company's stock, valued at approximately $8,712,111.10. This represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. The trade was a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 705,844 shares of company stock valued at $6,583,103 in the last 90 days. 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.