Jones Financial Companies Lllp Raises Holdings in Archer Aviation Inc. (NYSE:ACHR)

Jones Financial Companies Lllp lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 31.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,016 shares of the company’s stock after buying an additional 4,305 shares during the period. Jones Financial Companies Lllp’s holdings in Archer Aviation were worth $176,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC raised its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after buying an additional 3,339 shares in the last quarter. US Bancorp DE raised its stake in shares of Archer Aviation by 2,725.3% during the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after buying an additional 4,306 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Archer Aviation by 50.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after buying an additional 5,000 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.88 on Friday. The business’s fifty day moving average price is $9.09 and its two-hundred day moving average price is $6.48. The stock has a market cap of $4.27 billion, a PE ratio of -5.97 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48.

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

Insider Transactions at Archer Aviation

In other news, Director Michael Spellacy sold 191,513 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total transaction of $1,915,130.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now owns 53,225 shares in the company, valued at $409,832.50. This trade represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 545,498 shares of company stock worth $4,920,815 over the last quarter. 9.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ACHR shares. Needham & Company LLC increased their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group raised their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.