Moody National Bank Trust Division Makes New $1.02 Million Investment in Archer Aviation Inc. (NYSE:ACHR)

Moody National Bank Trust Division bought a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, HoldingsChannel reports. The fund bought 104,950 shares of the company’s stock, valued at approximately $1,023,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation in the third quarter valued at about $26,000. Versant Capital Management Inc raised its stake in shares of Archer Aviation by 74.3% during the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after buying an additional 3,430 shares in the last quarter. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at approximately $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation during the third quarter worth $31,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Down 8.4 %

ACHR stock opened at $8.22 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company’s 50 day simple moving average is $7.65 and its 200-day simple moving average is $5.05. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The firm has a market capitalization of $3.50 billion, a PE ratio of -6.23 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) earnings per share. Equities analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHR. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a report on Friday. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald upped their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Corporate insiders own 9.75% of the company’s stock.

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.