Total Wealth Planning & Management Inc. Sells 955 Shares of Archer Aviation Inc. $ACHR

Total Wealth Planning & Management Inc. decreased its position in Archer Aviation Inc. (NYSE:ACHR) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,265 shares of the company’s stock after selling 955 shares during the period. Total Wealth Planning & Management Inc.’s holdings in Archer Aviation were worth $242,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after acquiring an additional 1,664 shares during the last quarter. Strs Ohio bought a new position in Archer Aviation in the first quarter valued at about $27,000. Tidemark LLC boosted its holdings in Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Archer Aviation in the first quarter valued at about $31,000. Finally, ORG Partners LLC bought a new position in Archer Aviation in the first quarter valued at about $32,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 1.5%

NYSE ACHR opened at $12.65 on Friday. The firm has a market cap of $8.16 billion, a P/E ratio of -9.37 and a beta of 3.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The stock’s 50-day moving average is $9.69 and its 200-day moving average is $9.63. Archer Aviation Inc. has a one year low of $2.85 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACHR. Canaccord Genuity Group reissued a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. UBS Group reissued a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Insiders Place Their Bets

In other news, CFO Priya Gupta sold 10,224 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the sale, the chief financial officer owned 147,153 shares of the company’s stock, valued at $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is owned by company 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.