Hennion & Walsh Asset Management Inc. Boosts Holdings in Archer Aviation Inc. (NYSE:ACHR)

Hennion & Walsh Asset Management Inc. lifted its stake in Archer Aviation Inc. (NYSE:ACHR) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,750 shares of the company’s stock after purchasing an additional 11,317 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Archer Aviation were worth $544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ACHR. HBK Investments L P purchased a new position in shares of Archer Aviation in the 3rd quarter worth about $6,818,000. Sora Investors LLC purchased a new position in Archer Aviation in the 3rd quarter worth about $3,429,000. Stifel Financial Corp raised its position in Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after buying an additional 391,092 shares during the last quarter. Barclays PLC raised its position in Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 3.2 %

Archer Aviation stock opened at $8.80 on Tuesday. The business has a 50-day simple moving average of $8.26 and a two-hundred day simple moving average of $5.26. The company has a market cap of $3.74 billion, a P/E ratio of -6.66 and a beta of 3.15. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) earnings per share. Analysts predict that Archer Aviation Inc. will post -1.33 EPS for the current year.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’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 value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $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. In the last ninety days, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ACHR shares. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two equities 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.38.

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.