Apollon Wealth Management LLC Purchases Shares of 30,399 Archer Aviation Inc. (NYSE:ACHR)

Apollon Wealth Management LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 30,399 shares of the company’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. HBK Investments L P purchased a new stake in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation during the third quarter worth $3,429,000. Yarbrough Capital LLC acquired a new position in Archer Aviation during the fourth quarter worth $6,039,000. Stifel Financial Corp lifted its stake in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of 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 acquiring an additional 312,440 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity

In related news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

ACHR opened at $10.33 on Friday. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The firm’s fifty day moving average price is $9.43 and its two-hundred day moving average price is $5.88. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -7.82 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research report on Thursday, January 16th. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group lowered their price objective on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.25.

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.