RFG Advisory LLC Purchases Shares of 76,331 Archer Aviation Inc. $ACHR

RFG Advisory LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 76,331 shares of the company’s stock, valued at approximately $731,000.

Several other large investors have also recently bought and sold shares of ACHR. Bank of Jackson Hole Trust raised its holdings in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in shares of Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after purchasing an additional 1,107 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in Archer Aviation by 3.6% during the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in Archer Aviation by 23.7% in the second quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company’s stock worth $72,000 after buying an additional 1,269 shares during the last quarter. Finally, Purus Wealth Management LLC boosted its stake in shares of Archer Aviation by 9.9% during the 2nd quarter. Purus Wealth Management LLC now owns 14,865 shares of the company’s stock worth $161,000 after acquiring an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the sale, the insider directly owned 83,733 shares of the company’s stock, valued at $627,160.17. This trade represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the sale, the insider owned 334,632 shares in the company, valued at approximately $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 over the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. The Goldman Sachs Group assumed coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Price Performance

NYSE ACHR opened at $6.75 on Friday. The stock has a market capitalization of $4.40 billion, a PE ratio of -5.36 and a beta of 3.11. The stock has a 50-day simple moving average of $8.04 and a 200 day simple moving average of $9.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. Archer Aviation Inc. has a twelve month low of $5.48 and a twelve month high of $14.62.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.