EP Wealth Advisors LLC Grows Stock Position in Archer Aviation Inc. (NYSE:ACHR)

EP Wealth Advisors LLC increased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 50.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the company’s stock after purchasing an additional 5,000 shares during the quarter. EP Wealth Advisors LLC’s holdings in Archer Aviation were worth $45,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ACHR. Cetera Advisors LLC acquired a new position in shares of Archer Aviation during the first quarter worth about $80,000. CWM LLC grew its holdings in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Raymond James & Associates increased its position in shares of Archer Aviation by 44.4% in the 2nd quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock valued at $2,201,000 after purchasing an additional 192,120 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Archer Aviation by 40.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 46,058 shares of the company’s stock valued at $162,000 after purchasing an additional 13,377 shares in the last quarter. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Archer Aviation during the 2nd quarter worth $70,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of ACHR opened at $8.39 on Monday. The company’s 50 day simple moving average is $4.89 and its 200-day simple moving average is $4.10. The firm has a market cap of $3.57 billion, a PE ratio of -6.36 and a beta of 3.19. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $9.84. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the firm earned ($0.19) EPS. As a group, equities analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ACHR. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday, October 7th. Canaccord Genuity Group upped their price target on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Insider Buying and Selling

In other news, Director Michael Spellacy sold 63,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $7.10, for a total value of $447,300.00. Following the completion of the sale, the director now owns 191,513 shares in the company, valued at approximately $1,359,742.30. This trade represents a 24.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,571,386 shares valued at $9,236,577. Corporate insiders own 9.75% of the company’s stock.

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.