55,033 Shares in Archer Aviation Inc. $ACHR Bought by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC bought a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 55,033 shares of the company’s stock, valued at approximately $597,000.

A number of other hedge funds have also made changes to their positions in ACHR. Allworth Financial LP grew its stake in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after acquiring an additional 1,664 shares during the last quarter. Strs Ohio purchased a new stake in shares of Archer Aviation in the first quarter valued at about $27,000. Tidemark LLC lifted its holdings in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares in the last quarter. AlphaQuest LLC grew its position in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Archer Aviation during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday. Needham & Company LLC dropped their price objective on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Canaccord Genuity Group reissued a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, October 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.71.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,936 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 transaction of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares of the company’s stock, valued at approximately $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the sale, the chief technology officer directly owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 188,068 shares of company stock valued at $1,848,708. Insiders own 7.65% of the company’s stock.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $8.20 on Friday. The company has a market cap of $5.29 billion, a P/E ratio of -6.50 and a beta of 3.07. The business has a fifty day simple moving average of $10.29 and a 200-day simple moving average of $10.22. Archer Aviation Inc. has a 52 week low of $3.49 and a 52 week high of $14.62. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.