GPS Wealth Strategies Group LLC Increases Holdings in Archer Aviation Inc. (NYSE:ACHR)

GPS Wealth Strategies Group LLC boosted its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 708.3% in the 4th quarter, Holdings Channel reports. The fund owned 3,395 shares of the company’s stock after buying an additional 2,975 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Archer Aviation were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ACHR. HBK Investments L P purchased a new position in Archer Aviation during the third quarter valued at approximately $6,818,000. Sora Investors LLC acquired a new stake in Archer Aviation in the third quarter valued at approximately $3,429,000. Yarbrough Capital LLC acquired a new stake in Archer Aviation in the fourth quarter valued at approximately $6,039,000. Stifel Financial Corp grew its holdings in Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after purchasing an additional 391,092 shares during the period. Finally, Barclays PLC grew its holdings in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder N.V. Stellantis bought 751,879 shares of Archer Aviation stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares in the company, valued at $1,263,072. This represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Performance

NYSE ACHR opened at $9.19 on Wednesday. The stock’s fifty day moving average is $9.16 and its two-hundred day moving average is $5.62. The firm has a market capitalization of $3.91 billion, a P/E ratio of -6.96 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. On average, research analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group raised their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Thursday, January 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

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.