PFG Investments LLC Grows Holdings in Archer Aviation Inc. (NYSE:ACHR)

PFG Investments LLC raised its position in Archer Aviation Inc. (NYSE:ACHR) by 36.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,629 shares of the company’s stock after buying an additional 5,200 shares during the period. PFG Investments LLC’s holdings in Archer Aviation were worth $59,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Code Waechter LLC purchased a new position in Archer Aviation in the third quarter valued at about $30,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management boosted its stake in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the last quarter. CWM LLC grew its position in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Archer Aviation in the third quarter worth $36,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the transaction, the insider now directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright started coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Trading Down 4.1 %

NYSE ACHR opened at $3.15 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $7.01. The company has a 50-day simple moving average of $3.22 and a 200-day simple moving average of $3.63. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.58 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, equities analysts forecast that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

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.