Archer Aviation Inc. (NYSE:ACHR) Shares Sold by CreativeOne Wealth LLC

CreativeOne Wealth LLC trimmed its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,142 shares of the company’s stock after selling 11,290 shares during the quarter. CreativeOne Wealth LLC’s holdings in Archer Aviation were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of 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 buying an additional 1,095 shares during the period. Sanctuary Advisors LLC raised its stake in Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after acquiring an additional 1,246 shares in the last quarter. Xponance Inc. boosted its position in 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 acquiring an additional 1,299 shares during the period. Summit Investment Advisors Inc. boosted its position in 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 acquiring an additional 1,550 shares during the period. Finally, Hollencrest Capital Management grew its stake in shares of Archer Aviation by 7.4% in the fourth quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock worth $254,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Raymond James increased their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Trading Up 2.5 %

NYSE:ACHR opened at $7.23 on Friday. The stock has a fifty day simple moving average of $7.98 and a 200 day simple moving average of $7.24. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -5.47 and a beta of 3.16. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 33,335 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. This represents a 11.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,780 shares of company stock worth $3,158,081. 9.75% of the stock is currently owned by company insiders.

Archer Aviation Company 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.