Miller Wealth Advisors LLC Boosts Holdings in Archer Aviation Inc. $ACHR

Miller Wealth Advisors LLC lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 28.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,982 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. Archer Aviation accounts for approximately 0.0% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Miller Wealth Advisors LLC’s holdings in Archer Aviation were worth $97,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. PFG Investments LLC boosted its stake in shares of Archer Aviation by 6.4% during the 2nd quarter. PFG Investments LLC now owns 26,891 shares of the company’s stock worth $292,000 after acquiring an additional 1,620 shares in the last quarter. Avondale Wealth Management boosted its stake in shares of Archer Aviation by 40.9% during the 2nd quarter. Avondale Wealth Management now owns 79,250 shares of the company’s stock worth $860,000 after acquiring an additional 23,000 shares in the last quarter. Meridian Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the 2nd quarter worth about $436,000. Sara Bay Financial boosted its stake in shares of Archer Aviation by 20.1% during the 2nd quarter. Sara Bay Financial now owns 13,821 shares of the company’s stock worth $150,000 after acquiring an additional 2,314 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Archer Aviation during the 2nd quarter worth about $181,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Eric Lentell sold 48,936 shares of the firm’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 transaction of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares in the company, valued at $467,101.94. This trade represents a 50.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the firm’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 sale, the insider owned 295,337 shares of the company’s stock, valued at $2,903,162.71. This represents a 12.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,068 shares of company stock worth $1,848,708 over the last quarter. 7.65% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Down 0.7%

ACHR stock opened at $9.58 on Wednesday. The firm has a 50-day moving average of $9.53 and a two-hundred day moving average of $9.47. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -7.10 and a beta of 3.07. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12 month low of $2.85 and a 12 month high of $13.92.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.12). As a group, analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACHR has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.43.

Archer Aviation 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.