Total Wealth Planning & Management Inc. Makes New $450,000 Investment in Archer Aviation Inc. (NYSE:ACHR)

Total Wealth Planning & Management Inc. purchased a new position in Archer Aviation Inc. (NYSE:ACHR) during the 4th quarter, Holdings Channel reports. The firm purchased 46,145 shares of the company’s stock, valued at approximately $450,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in Archer Aviation in the 4th quarter worth $27,000. Conquis Financial LLC bought a new position in shares of Archer Aviation during the 4th quarter worth about $29,000. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the period. Oarsman Capital Inc. lifted its holdings in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC lifted its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

NYSE ACHR opened at $10.59 on Tuesday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a 50 day moving average of $8.52 and a 200-day moving average of $8.49. 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 market cap of $5.81 billion, a price-to-earnings ratio of -8.02 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACHR. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Raymond James raised their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Archer Aviation in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Insider Activity

In other news, CTO Thomas Paul Muniz sold 80,919 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the transaction, the chief technology officer now owns 1,253,294 shares in the company, valued at approximately $16,280,289.06. The trade was a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. This trade represents a 17.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 705,844 shares of company stock worth $6,583,103. Insiders own 7.65% of the company’s stock.

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.