Kingsview Wealth Management LLC Has $1.01 Million Holdings in Archer Aviation Inc. $ACHR

Kingsview Wealth Management LLC decreased its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 66.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 105,133 shares of the company’s stock after selling 204,682 shares during the period. Kingsview Wealth Management LLC’s holdings in Archer Aviation were worth $1,007,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter valued at about $27,000. AlphaQuest LLC boosted its holdings in Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation in the third quarter worth approximately $29,000. Bank of Jackson Hole Trust grew its stake in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the period. Finally, Sound Income Strategies LLC acquired a new stake in Archer Aviation in the third quarter valued at approximately $33,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Buying and Selling

In related news, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at approximately $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.65% of the company’s stock.

Archer Aviation Trading Down 2.9%

Shares of ACHR stock opened at $6.27 on Friday. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 19.89. The company has a 50-day simple moving average of $7.64 and a two-hundred day simple moving average of $8.75. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -6.33 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The company’s revenue was up 29900.0% on a year-over-year basis. Research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.