Salem Investment Counselors Inc. Boosts Stock Position in Archer Aviation Inc. (NYSE:ACHR)

Salem Investment Counselors Inc. grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHRFree Report) by 83.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,000 shares of the company’s stock after buying an additional 5,000 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Archer Aviation were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers lifted its position in shares of Archer Aviation by 29.3% during the second quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock worth $1,098,000 after purchasing an additional 70,575 shares during the last quarter. Arizona State Retirement System lifted its holdings in Archer Aviation by 13.7% during the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after buying an additional 7,184 shares during the last quarter. Choreo LLC acquired a new position in shares of Archer Aviation in the 2nd quarter worth approximately $49,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Archer Aviation in the 2nd quarter valued at approximately $114,000. Finally, Blair William & Co. IL lifted its stake in Archer Aviation by 55.9% during the second quarter. Blair William & Co. IL now owns 89,834 shares of the company’s stock worth $316,000 after purchasing an additional 32,204 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Insider Activity at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 751,879 shares of the stock in a transaction dated Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $8.23 on Wednesday. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -6.23 and a beta of 3.15. 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 1 year low of $2.82 and a 1 year high of $12.48. The business has a fifty day moving average of $7.75 and a 200-day moving average of $5.08.

Archer Aviation (NYSE:ACHRGet Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business earned ($0.19) EPS. Equities analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of research reports. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC started coverage on Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Get Our Latest Report on ACHR

Archer Aviation Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding ACHR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Archer Aviation Inc. (NYSE:ACHRFree Report).

Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.