13,275 Shares in Archer Aviation Inc. (NYSE:ACHR) Bought by Purus Wealth Management LLC

Purus Wealth Management LLC purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,275 shares of the company’s stock, valued at approximately $129,000.

Several other institutional investors have also modified their holdings of the company. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the 3rd quarter worth $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the third quarter worth about $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the third quarter worth about $31,000. Cyndeo Wealth Partners LLC bought a new position in Archer Aviation in the 3rd quarter valued at about $36,000. Finally, Narwhal Capital Management acquired a new position in Archer Aviation during the 3rd quarter valued at about $40,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 3.2 %

Shares of NYSE ACHR opened at $8.80 on Monday. 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 Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -6.66 and a beta of 3.15. The business has a fifty day simple moving average of $8.17 and a 200-day simple moving average of $5.22.

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

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Company insiders own 9.75% of the company’s stock.

Analyst Upgrades and Downgrades

ACHR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a report on Thursday. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus 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.