Archer Aviation Inc. (NYSE:ACHR) Position Boosted by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 90.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,654 shares of the company’s stock after buying an additional 57,245 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Archer Aviation were worth $1,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC lifted its position in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares during the last quarter. Hollencrest Capital Management raised its position in shares of Archer Aviation by 7.4% during the fourth quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock worth $254,000 after acquiring an additional 1,800 shares during the last quarter. Amalgamated Bank grew its holdings in Archer Aviation by 50.7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after acquiring an additional 2,680 shares during the period. GPS Wealth Strategies Group LLC raised its position in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after acquiring an additional 2,975 shares during the period. Finally, Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Trading Down 1.7 %

NYSE:ACHR opened at $7.14 on Tuesday. The stock has a market capitalization of $3.87 billion, a PE ratio of -5.41 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm’s 50 day moving average is $8.72 and its 200 day moving average is $6.92. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average target price of $11.61.

Insiders Place Their Bets

In related news, CFO Mark Mesler sold 62,258 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares of the company’s stock, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,985 shares of company stock valued at $2,555,685 over the last quarter. 9.75% of the stock is owned by corporate insiders.

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.