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

Kingsview Wealth Management LLC trimmed its holdings in Archer Aviation Inc. (NYSE:ACHR) by 66.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Bank of Jackson Hole Trust grew its stake in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after buying an additional 1,107 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after acquiring an additional 1,237 shares during the period. Clear Creek Financial Management LLC lifted its holdings in shares of Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after acquiring an additional 1,254 shares during the period. Finally, GPS Wealth Strategies Group LLC boosted its position in shares of Archer Aviation by 23.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company’s stock worth $72,000 after acquiring an additional 1,269 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACHR. Needham & Company LLC reduced their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Canaccord Genuity Group boosted their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $6.27 on Friday. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -6.33 and a beta of 3.10. Archer Aviation Inc. has a twelve month low of $5.48 and a twelve month high of $14.62. The company’s fifty day moving average is $7.64 and its 200 day moving average is $8.75. The company has a quick ratio of 18.19, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.40 million. The company’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. The trade was a 8.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.65% of the stock is currently owned by company insiders.

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.