Kingsview Wealth Management LLC Sells 95,692 Shares of Archer Aviation Inc. (NYSE:ACHR)

Kingsview Wealth Management LLC lowered its holdings in Archer Aviation Inc. (NYSE:ACHR) by 23.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 319,371 shares of the company’s stock after selling 95,692 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Archer Aviation were worth $968,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation in the third quarter worth approximately $26,000. Code Waechter LLC purchased a new position in Archer Aviation in the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation in the 3rd quarter worth $31,000. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Insider Buying and Selling

In other Archer Aviation news, Director Deborah Diaz acquired 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 9.75% of the stock is owned by insiders.

Archer Aviation Trading Down 3.4 %

NYSE ACHR opened at $7.23 on Wednesday. The firm has a market cap of $3.07 billion, a PE ratio of -5.47 and a beta of 2.29. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.90. The stock has a 50-day moving average of $3.57 and a 200-day moving average of $3.69. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the company posted ($0.19) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current year.

Analyst Ratings Changes

ACHR has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target on the stock. Finally, HC Wainwright assumed coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

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.