Savvy Advisors Inc. Makes New $139,000 Investment in Archer Aviation Inc. $ACHR

Savvy Advisors Inc. acquired a new position in Archer Aviation Inc. (NYSE:ACHR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,832 shares of the company’s stock, valued at approximately $139,000.

Other institutional investors have also added to or reduced their stakes in the company. Clear Creek Financial Management LLC bought a new stake in shares of Archer Aviation during the second quarter valued at approximately $465,000. New York State Common Retirement Fund raised its stake in shares of Archer Aviation by 47.6% during the first quarter. New York State Common Retirement Fund now owns 100,087 shares of the company’s stock valued at $712,000 after acquiring an additional 32,300 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Archer Aviation by 429.6% during the first quarter. Private Advisor Group LLC now owns 272,072 shares of the company’s stock valued at $1,934,000 after acquiring an additional 220,696 shares in the last quarter. Virtu Financial LLC raised its stake in shares of Archer Aviation by 704.2% during the first quarter. Virtu Financial LLC now owns 359,555 shares of the company’s stock valued at $2,556,000 after acquiring an additional 314,844 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Archer Aviation by 42.4% during the first quarter. Swiss National Bank now owns 728,900 shares of the company’s stock valued at $5,182,000 after acquiring an additional 217,200 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ACHR shares. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, October 27th. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Archer Aviation Price Performance

ACHR opened at $10.46 on Tuesday. The business’s 50-day moving average is $10.30 and its two-hundred day moving average is $10.21. The firm has a market capitalization of $6.74 billion, a PE ratio of -7.74 and a beta of 3.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. Archer Aviation Inc. has a 1 year low of $3.14 and a 1 year high of $14.62.

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 analysts’ consensus estimates of ($0.24) by ($0.12). Research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 42,775 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 $420,478.25. Following the transaction, the insider directly owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $100,501.92. Following the transaction, the chief financial officer directly owned 147,153 shares in the company, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 188,068 shares of company stock valued at $1,848,708. Company 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.