Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC cut its stake in Archer Aviation Inc. (NYSE:ACHR) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 176,576 shares of the company’s stock after selling 15,872 shares during the period. Main Management ETF Advisors LLC’s holdings in Archer Aviation were worth $1,722,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tidal Investments LLC grew its holdings in Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares during the period. Salem Investment Counselors Inc. lifted its stake in Archer Aviation by 83.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 11,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Archer Aviation during the fourth quarter valued at approximately $1,023,000. 180 Wealth Advisors LLC bought a new stake in Archer Aviation during the fourth quarter worth approximately $105,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in Archer Aviation by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 55,750 shares of the company’s stock worth $544,000 after buying an additional 11,317 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Up 23.0%

NYSE:ACHR opened at $11.17 on Wednesday. The business’s fifty day moving average price is $7.84 and its 200 day moving average price is $7.95. The firm has a market capitalization of $6.06 billion, a price-to-earnings ratio of -8.46 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday. Raymond James upped their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 50,000 shares of Archer Aviation stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.47, for a total transaction of $423,500.00. Following the completion of the sale, the insider now directly owns 212,673 shares in the company, valued at $1,801,340.31. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares of the company’s stock, valued at approximately $4,852,871.10. The trade was a 8.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 474,780 shares of company stock valued at $3,581,581. Corporate insiders own 9.75% 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.