180 Wealth Advisors LLC Takes $105,000 Position in Archer Aviation Inc. (NYSE:ACHR)

180 Wealth Advisors LLC bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,791 shares of the company’s stock, valued at approximately $105,000.

A number of other hedge funds have also recently modified their holdings of the business. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the 3rd quarter worth about $26,000. Code Waechter LLC bought a new position in Archer Aviation in the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation in the 3rd quarter worth about $31,000. Hollencrest Capital Management boosted its stake in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in Archer Aviation in the 3rd quarter worth about $36,000. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Finally, JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Insider Activity

In related news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Adam D. Goldstein bought 19,762 shares of Archer Aviation stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $5.12 per share, with a total value of $101,181.44. Following the completion of the acquisition, the chief executive officer now directly owns 2,014,890 shares in the company, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

NYSE ACHR opened at $8.83 on Thursday. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The firm has a market capitalization of $3.76 billion, a P/E ratio of -6.69 and a beta of 3.15. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $7.96 and a 200-day moving average price of $5.14.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the firm earned ($0.19) EPS. Equities research analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

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.