Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC trimmed its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 35.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,236 shares of the company’s stock after selling 27,461 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Archer Aviation were worth $494,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter worth about $206,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Townsquare Capital LLC grew its position in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Archer Aviation by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock valued at $186,000 after purchasing an additional 8,431 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after purchasing an additional 105,425 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 10.7 %

NYSE ACHR opened at $6.20 on Friday. The company has a 50-day moving average of $8.48 and a 200-day moving average of $6.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market cap of $3.36 billion, a P/E ratio of -4.69 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now directly owns 45,416 shares of the company’s stock, valued at $319,728.64. The trade was a 52.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the sale, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock worth $3,758,081 in the last ninety days. Insiders own 9.75% of the company’s stock.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of recent research reports. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. 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, December 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

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.