Wealth Enhancement Advisory Services LLC Makes New $176,000 Investment in Archer Aviation Inc. (NYSE:ACHR)

Wealth Enhancement Advisory Services LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,791 shares of the company's stock, valued at approximately $176,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ACHR. EP Wealth Advisors LLC boosted its stake in shares of Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after buying an additional 1,000 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after buying an additional 1,224 shares during the last quarter. Xponance Inc. boosted its stake in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock worth $162,000 after buying an additional 1,299 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Archer Aviation by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 24,423 shares of the company's stock worth $238,000 after buying an additional 1,550 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 50,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $8.47, for a total value of $423,500.00. Following the transaction, the insider directly owned 212,673 shares of the company's stock, valued at $1,801,340.31. This represents a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 13,210 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the completion of the transaction, the chief financial officer directly owned 134,104 shares in the company, valued at approximately $1,742,010.96. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 376,960 shares of company stock worth $4,441,519. 7.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.50 to $13.00 and set a "buy" rating for the company in a research note on Monday, June 16th. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Monday, June 23rd. HC Wainwright restated a "buy" rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a research note on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $13.13.

Archer Aviation Stock Performance

Shares of ACHR stock traded down $0.25 on Friday, reaching $10.53. The stock had a trading volume of 36,869,951 shares, compared to its average volume of 27,199,614. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The firm's 50-day moving average is $10.39 and its two-hundred day moving average is $9.22. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -8.04 and a beta of 3.10. 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 released its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, research analysts expect that Archer Aviation Inc. will post -1.32 EPS 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.