Conquis Financial LLC Acquires Shares of 3,000 Archer Aviation Inc. (NYSE:ACHR)

Conquis Financial LLC bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,000 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Harbour Investments Inc. raised its stake in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. GPS Wealth Strategies Group LLC boosted its stake in Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares in the last quarter. US Bancorp DE boosted its stake in Archer Aviation by 2,725.3% in the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after purchasing an additional 4,306 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in Archer Aviation during the 4th quarter valued at about $49,000. Finally, Amalgamated Bank increased its stake in Archer Aviation by 50.7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock valued at $78,000 after purchasing an additional 2,680 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $6.93 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 market capitalization of $3.76 billion, a price-to-earnings ratio of -5.25 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $8.56 and a 200 day moving average of $6.95.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 474,780 shares of company stock valued at $3,758,081 over the last quarter. 9.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACHR. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC lifted their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Cantor Fitzgerald upped their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

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.