Accurate Wealth Management LLC Invests $181,000 in Archer Aviation Inc. $ACHR

Accurate Wealth Management LLC bought a new position in shares of Archer Aviation Inc. (NYSE:ACHR) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,765 shares of the company’s stock, valued at approximately $181,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Yarbrough Capital LLC raised its position in shares of Archer Aviation by 96.8% during the second quarter. Yarbrough Capital LLC now owns 466,798 shares of the company’s stock worth $5,065,000 after acquiring an additional 229,545 shares during the last quarter. Focused Wealth Management Inc increased its holdings in Archer Aviation by 16.0% in the second quarter. Focused Wealth Management Inc now owns 46,400 shares of the company’s stock valued at $503,000 after purchasing an additional 6,400 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in Archer Aviation by 86.0% in the second quarter. AdvisorNet Financial Inc now owns 17,300 shares of the company’s stock valued at $188,000 after purchasing an additional 8,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after purchasing an additional 2,024 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Down 0.4%

NYSE:ACHR opened at $9.29 on Friday. Archer Aviation Inc. has a 1 year low of $2.85 and a 1 year high of $13.92. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of -6.88 and a beta of 3.07. The stock has a 50-day moving average price of $9.60 and a two-hundred day moving average price of $9.43.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). As a group, equities analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ACHR. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reiterated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upped their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer directly owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Eric Lentell sold 95,896 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $10.60, for a total value of $1,016,497.60. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock valued at $2,865,206 in the last three months. Insiders own 7.65% 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.