Hennion & Walsh Asset Management Inc. Boosts Holdings in Archer Aviation Inc. (NYSE:ACHR)

Hennion & Walsh Asset Management Inc. increased its holdings in Archer Aviation Inc. (NYSE:ACHR) by 25.5% during the fourth quarter, Holdings Channel reports. The firm owned 55,750 shares of the company’s stock after acquiring an additional 11,317 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Archer Aviation were worth $544,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $26,000. Versant Capital Management Inc raised its holdings in shares of Archer Aviation by 74.3% during the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after acquiring an additional 3,430 shares in the last quarter. Code Waechter LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Finally, 180 Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $105,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $8.80 on Tuesday. The stock’s fifty day moving average is $8.26 and its two-hundred day moving average is $5.26. The company has a market capitalization of $3.74 billion, a PE ratio of -6.66 and a beta of 3.15. 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 Inc. has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the company earned ($0.19) earnings per share. As a group, analysts expect that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group increased their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Finally, Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

About Archer Aviation

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.