Archer Aviation Inc. $ACHR Shares Sold by Fullcircle Wealth LLC

Fullcircle Wealth LLC cut its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 10.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,450 shares of the company’s stock after selling 5,301 shares during the quarter. Fullcircle Wealth LLC’s holdings in Archer Aviation were worth $495,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. ARK Investment Management LLC raised its holdings in shares of Archer Aviation by 8.3% during the 2nd quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company’s stock valued at $321,003,000 after buying an additional 2,270,471 shares during the period. Vanguard Group Inc. raised its holdings in shares of Archer Aviation by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after buying an additional 3,249,106 shares during the period. Alpine Global Management LLC raised its holdings in shares of Archer Aviation by 16.7% during the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock valued at $30,583,000 after buying an additional 615,481 shares during the period. Nuveen LLC purchased a new stake in shares of Archer Aviation during the 1st quarter valued at about $22,423,000. Finally, Northern Trust Corp raised its holdings in shares of Archer Aviation by 32.5% during the 1st quarter. Northern Trust Corp now owns 3,108,457 shares of the company’s stock valued at $22,101,000 after buying an additional 762,398 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on ACHR. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Finally, UBS Group restated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.43.

Archer Aviation Price Performance

ACHR stock opened at $10.46 on Tuesday. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 52-week low of $3.14 and a 52-week high of $14.62. The stock’s 50 day moving average is $10.30 and its two-hundred day moving average is $10.21. The company has a market capitalization of $6.74 billion, a PE ratio of -7.74 and a beta of 3.06.

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

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 42,775 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares in the company, valued at approximately $2,903,162.71. This trade represents a 12.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the transaction, the chief financial officer owned 147,153 shares of the company’s stock, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 188,068 shares of company stock worth $1,848,708 in the last quarter. Insiders own 7.65% of the company’s stock.

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.