Janney Montgomery Scott LLC Sells 17,425 Shares of Archer Aviation Inc. (NYSE:ACHR)

Janney Montgomery Scott LLC decreased its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,748 shares of the company’s stock after selling 17,425 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Archer Aviation were worth $485,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Archer Aviation by 42.6% in the second quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company’s stock valued at $425,000 after purchasing an additional 36,130 shares during the last quarter. Creative Planning raised its holdings in shares of Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company’s stock valued at $87,000 after purchasing an additional 12,278 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in shares of Archer Aviation by 88.9% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 55,732 shares of the company’s stock valued at $169,000 after buying an additional 26,222 shares in the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of Archer Aviation by 157.4% in the third quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company’s stock valued at $176,000 after buying an additional 35,554 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation in the third quarter valued at $36,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHR. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Canaccord Genuity Group boosted their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Down 1.5 %

ACHR stock opened at $9.02 on Monday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The business has a fifty day moving average price of $9.19 and a 200-day moving average price of $5.72. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The stock has a market capitalization of $3.83 billion, a P/E ratio of -6.83 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted 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 period in the previous year, the company earned ($0.19) earnings per share. Equities analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently 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.