Dumont & Blake Investment Advisors LLC Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Dumont & Blake Investment Advisors LLC bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,400 shares of the company’s stock, valued at approximately $160,000.

Several other large investors have also recently made changes to their positions in ACHR. Townsquare Capital LLC increased its holdings in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after acquiring an additional 3,033 shares during the last quarter. PFG Investments LLC grew its holdings in Archer Aviation by 16.3% during the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock valued at $223,000 after buying an additional 3,192 shares in the last quarter. Tidal Investments LLC grew its holdings in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position 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 valued at $78,000 after acquiring an additional 3,430 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the transaction, the chief technology officer now directly owns 1,170,360 shares in the company, valued at $8,883,032.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACHR shares. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $9.25 on Friday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The firm has a 50 day moving average of $9.02 and a 200 day moving average of $5.52. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -7.00 and a beta of 3.15. 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 (NYSE:ACHR) last issued its quarterly 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 period last year, the firm posted ($0.19) earnings per share. On average, research analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

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.