Valeo Financial Advisors LLC Takes $376,000 Position in Archer Aviation Inc. $ACHR

Key Points

• Valeo Financial Advisors LLC has acquired a new position in Archer Aviation Inc., purchasing 34,644 shares valued at approximately $376,000 in the second quarter of 2023.
• Archer Aviation recently reported an EPS of ($0.36) for the most recent quarter, missing the consensus estimate, while equities analysts project an average target price of $13.43 for the stock.
• Insider trading activity reflects a decline, with CFO Priya Gupta and insider Tosha Perkins both selling shares, which indicates potential shifts in sentiment regarding the company's stock performance.

Valeo Financial Advisors LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 34,644 shares of the company's stock, valued at approximately $376,000.

Several other large investors also recently made changes to their positions in ACHR. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 6,377 shares during the period. Rhumbline Advisers grew its stake in shares of Archer Aviation by 38.0% in the 1st quarter. Rhumbline Advisers now owns 430,920 shares of the company's stock valued at $3,064,000 after buying an additional 118,598 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Archer Aviation in the 1st quarter valued at about $1,437,000. GPS Wealth Strategies Group LLC grew its stake in shares of Archer Aviation by 57.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company's stock valued at $38,000 after buying an additional 1,950 shares during the period. Finally, Matauro LLC grew its stake in shares of Archer Aviation by 3.6% in the 1st quarter. Matauro LLC now owns 435,962 shares of the company's stock valued at $3,100,000 after buying an additional 15,051 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Archer Aviation stock opened at $12.65 on Friday. Archer Aviation Inc. has a 52 week low of $2.85 and a 52 week high of $13.92. The company's 50 day moving average price is $9.69 and its two-hundred day moving average price is $9.63. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market cap of $8.16 billion, a P/E ratio of -9.37 and a beta of 3.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.43.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 42,775 shares of Archer Aviation 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 sale, the insider owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation 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 $100,501.92. Following the completion of the sale, the chief financial officer directly owned 147,153 shares in the company, valued at $1,446,513.99. This trade represents a 6.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,068 shares of company stock worth $1,848,708. 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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