Archer Aviation Inc. $ACHR Shares Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its position in Archer Aviation Inc. (NYSE:ACHR) by 50.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,155 shares of the company’s stock after purchasing an additional 15,120 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Archer Aviation were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ACHR. GAMMA Investing LLC lifted its stake in shares of Archer Aviation by 3,582.6% during the first quarter. GAMMA Investing LLC now owns 6,555 shares of the company’s stock valued at $470,000 after buying an additional 6,377 shares during the period. Rhumbline Advisers lifted its stake in shares of Archer Aviation by 38.0% during the 1st quarter. Rhumbline Advisers now owns 430,920 shares of the company’s stock worth $3,064,000 after purchasing an additional 118,598 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Archer Aviation during the 1st quarter worth $1,437,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Archer Aviation by 57.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company’s stock worth $38,000 after purchasing an additional 1,950 shares during the period. Finally, Matauro LLC lifted its position in Archer Aviation by 3.6% during the first quarter. Matauro LLC now owns 435,962 shares of the company’s stock worth $3,100,000 after buying an additional 15,051 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Down 5.6%

ACHR opened at $11.95 on Friday. The firm has a 50 day moving average price of $9.74 and a 200 day moving average price of $9.65. The company has a market cap of $7.71 billion, a PE ratio of -8.85 and a beta of 3.06. Archer Aviation Inc. has a 1 year low of $2.93 and a 1 year high of $13.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). Sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the sale, the chief financial officer directly owned 147,153 shares in the company, valued at approximately $1,446,513.99. This represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,068 shares of company stock valued at $1,848,708 in the last 90 days. 7.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $13.43.

Archer Aviation Company 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.