Almanack Investment Partners LLC. Sells 2,000 Shares of Archer Aviation Inc. $ACHR

Almanack Investment Partners LLC. cut its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 12.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,020 shares of the company’s stock after selling 2,000 shares during the period. Almanack Investment Partners LLC.’s holdings in Archer Aviation were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ACHR. GAMMA Investing LLC increased its position in shares of Archer Aviation by 3,582.6% during the 1st quarter. GAMMA Investing LLC now owns 6,555 shares of the company’s stock valued at $470,000 after purchasing an additional 6,377 shares during the last quarter. Rhumbline Advisers increased its position in shares of Archer Aviation by 38.0% during the 1st quarter. Rhumbline Advisers now owns 430,920 shares of the company’s stock valued at $3,064,000 after purchasing an additional 118,598 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Archer Aviation during the 1st quarter valued at about $176,000. Janney Montgomery Scott LLC increased its position in shares of Archer Aviation by 64.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company’s stock valued at $581,000 after purchasing an additional 31,933 shares during the last quarter. Finally, ORG Partners LLC bought a new position in shares of Archer Aviation during the 1st quarter valued at about $32,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group restated a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.43.

Archer Aviation Price Performance

Shares of ACHR stock opened at $12.73 on Tuesday. The firm has a market cap of $8.21 billion, a P/E ratio of -9.43 and a beta of 3.06. Archer Aviation Inc. has a fifty-two week low of $2.98 and a fifty-two week high of $13.92. The business’s 50 day moving average price is $9.78 and its 200-day moving average price is $9.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30.

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

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider directly owned 295,337 shares in the company, valued at approximately $2,903,162.71. This trade represents a 12.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction that occurred on 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 sale, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,068 shares of company stock valued at $1,848,708 in the last 90 days. 7.65% of the stock is owned by corporate insiders.

Archer Aviation Company 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.