Vontobel Holding Ltd. Invests $133,000 in Archer Aviation Inc. $ACHR

Vontobel Holding Ltd. purchased a new position in shares of Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,302 shares of the company’s stock, valued at approximately $133,000.

A number of other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after buying an additional 1,106 shares during the period. Moody National Bank Trust Division increased its stake in shares of Archer Aviation by 0.7% during the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after buying an additional 1,211 shares during the period. Kestra Private Wealth Services LLC increased its stake in shares of Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock worth $121,000 after buying an additional 1,358 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the period. Finally, CWM LLC increased its stake in shares of Archer Aviation by 13.6% during the first quarter. CWM LLC now owns 12,133 shares of the company’s stock worth $86,000 after buying an additional 1,451 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group restated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased 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. 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. Canaccord Genuity Group reiterated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.43.

Archer Aviation Stock Performance

Shares of ACHR opened at $13.02 on Thursday. 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 firm has a market cap of $8.40 billion, a PE ratio of -9.64 and a beta of 3.06. The company’s 50 day simple moving average is $9.90 and its 200-day simple moving average is $9.76. Archer Aviation Inc. has a 12-month low of $2.98 and a 12-month high of $14.62.

Archer Aviation (NYSE:ACHR) last announced 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 predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the transaction, the insider directly owned 47,518 shares in the company, valued at $467,101.94. This trade represents a 50.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the transaction, the chief financial officer owned 147,153 shares of the company’s stock, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by insiders.

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.