Kingsview Wealth Management LLC Has $968,000 Holdings in Archer Aviation Inc. (NYSE:ACHR)

Kingsview Wealth Management LLC trimmed its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 23.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,371 shares of the company’s stock after selling 95,692 shares during the period. Kingsview Wealth Management LLC owned approximately 0.09% of Archer Aviation worth $968,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the third quarter valued at approximately $26,000. Hollencrest Capital Management boosted its holdings in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC increased its stake in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Code Waechter LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth $30,000. Finally, Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation during the 3rd quarter worth $31,000. 59.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. HC Wainwright began coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Archer Aviation Stock Performance

ACHR stock opened at $7.23 on Wednesday. The firm has a market cap of $3.07 billion, a PE ratio of -5.47 and a beta of 2.29. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.90. The stock has a 50-day moving average price of $3.57 and a 200-day moving average price of $3.69. 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 announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) EPS. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Insider Activity

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now owns 98,886 shares in the company, valued at $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.75% of the stock is currently owned by corporate insiders.

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.