Cyndeo Wealth Partners LLC Purchases New Holdings in Archer Aviation Inc. (NYSE:ACHR)

Cyndeo Wealth Partners LLC purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,000 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Alpine Global Management LLC acquired a new position in Archer Aviation during the 1st quarter worth approximately $5,782,000. Intellectus Partners LLC increased its position in Archer Aviation by 136.1% during the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after purchasing an additional 523,024 shares during the period. Bank of New York Mellon Corp increased its position in Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after purchasing an additional 254,460 shares during the period. Raymond James & Associates increased its position in Archer Aviation by 44.4% during the 2nd quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after purchasing an additional 192,120 shares during the period. Finally, DNB Asset Management AS increased its position in Archer Aviation by 195.1% during the 2nd quarter. DNB Asset Management AS now owns 263,063 shares of the company’s stock worth $926,000 after purchasing an additional 173,919 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insider Activity at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of Archer Aviation stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 27.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACHR. HC Wainwright began coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Benchmark reissued a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Price Performance

ACHR stock opened at $3.30 on Wednesday. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $7.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock’s 50 day moving average price is $3.28 and its 200 day moving average price is $3.66. The firm has a market cap of $1.07 billion, a P/E ratio of -2.02 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Archer Aviation Company 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.