Avondale Wealth Management Invests $127,000 in Archer Aviation Inc. (NYSE:ACHR)

Avondale Wealth Management purchased a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 13,000 shares of the company’s stock, valued at approximately $127,000.

Several other large investors have also recently modified their holdings of ACHR. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at $26,000. Code Waechter LLC bought a new position in shares of Archer Aviation during the third quarter valued at $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the third quarter valued at $31,000. Hollencrest Capital Management increased its holdings in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in Archer Aviation in the 3rd quarter worth about $36,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of recent analyst reports. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Canaccord Genuity Group increased their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Stock Performance

ACHR traded down $0.93 during midday trading on Friday, reaching $9.55. The company had a trading volume of 16,181,761 shares, compared to its average volume of 37,196,125. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year 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. The company has a market cap of $4.06 billion, a P/E ratio of -7.23 and a beta of 3.15. The business has a 50-day moving average of $7.39 and a two-hundred day moving average of $4.96.

Archer Aviation (NYSE:ACHR) last issued 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 firm earned ($0.19) EPS. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total value of $1,915,130.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is owned by corporate insiders.

About Archer Aviation

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.