Archer Aviation Inc. $ACHR Shares Bought by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC boosted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 50.3% in the second quarter, Holdings Channel.com reports. The firm owned 45,155 shares of the company’s stock after acquiring an additional 15,120 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Archer Aviation were worth $490,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ACHR. GAMMA Investing LLC grew its holdings in Archer Aviation by 3,582.6% during the 1st quarter. GAMMA Investing LLC now owns 6,555 shares of the company’s stock valued at $470,000 after purchasing an additional 6,377 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Archer Aviation by 38.0% during the first quarter. Rhumbline Advisers now owns 430,920 shares of the company’s stock valued at $3,064,000 after acquiring an additional 118,598 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Archer Aviation during the first quarter valued at about $1,437,000. GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 57.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company’s stock valued at $38,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Matauro LLC grew its stake in Archer Aviation by 3.6% during the 1st quarter. Matauro LLC now owns 435,962 shares of the company’s stock valued at $3,100,000 after purchasing an additional 15,051 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Tosha Perkins sold 42,775 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares in the company, valued at $2,903,162.71. The trade was a 12.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Lentell sold 48,936 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the transaction, the insider owned 47,518 shares of the company’s stock, valued at $467,101.94. This represents a 50.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,068 shares of company stock valued at $1,848,708. 7.65% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ACHR shares. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Canaccord Genuity Group reissued a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Archer Aviation Stock Performance

Archer Aviation stock opened at $11.95 on Friday. Archer Aviation Inc. has a 12 month low of $2.93 and a 12 month high of $13.92. The company has a fifty day moving average price of $9.74 and a two-hundred day moving average price of $9.65. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The company has a market cap of $7.71 billion, a PE ratio of -8.85 and a beta of 3.06.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.