42,830 Shares in Archer Aviation Inc. $ACHR Bought by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC acquired a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 42,830 shares of the company’s stock, valued at approximately $465,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ACHR. GAMMA Investing LLC raised its holdings in shares of Archer Aviation by 3,582.6% during the first quarter. GAMMA Investing LLC now owns 6,555 shares of the company’s stock worth $470,000 after acquiring an additional 6,377 shares during the period. Rhumbline Advisers raised its holdings in shares of Archer Aviation by 38.0% during the first quarter. Rhumbline Advisers now owns 430,920 shares of the company’s stock worth $3,064,000 after acquiring an additional 118,598 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Archer Aviation during the first quarter worth $1,437,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 57.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company’s stock worth $38,000 after acquiring an additional 1,950 shares during the period. Finally, Matauro LLC raised its holdings in shares of Archer Aviation by 3.6% during the first quarter. Matauro LLC now owns 435,962 shares of the company’s stock worth $3,100,000 after acquiring an additional 15,051 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares of the company’s stock, valued at $2,903,162.71. This trade represents a 12.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the transaction, the chief financial officer directly owned 147,153 shares of the company’s stock, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,068 shares of company stock worth $1,848,708. Insiders own 7.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACHR. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Archer Aviation Stock Down 5.6%

Shares of ACHR stock opened at $11.95 on Friday. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 1 year low of $2.93 and a 1 year high of $13.92. The firm’s fifty day moving average price is $9.74 and its two-hundred day moving average price is $9.65. The firm has a market capitalization of $7.71 billion, a P/E ratio of -8.85 and a beta of 3.06.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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.