Archer Aviation Inc. (NYSE:ACHR) Shares Purchased by Benjamin Edwards Inc.

Benjamin Edwards Inc. boosted its position in Archer Aviation Inc. (NYSE:ACHR) by 12,656.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,258 shares of the company’s stock after purchasing an additional 105,425 shares during the period. Benjamin Edwards Inc.’s holdings in Archer Aviation were worth $322,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of Archer Aviation by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after acquiring an additional 5,611 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Archer Aviation during the 1st quarter valued at $49,000. Cetera Advisors LLC acquired a new stake in shares of Archer Aviation during the 1st quarter valued at $80,000. CWM LLC lifted its position in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Finally, Intellectus Partners LLC lifted its position in shares of Archer Aviation by 136.1% during the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after acquiring an additional 523,024 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.81 on Tuesday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $9.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.32 billion, a P/E ratio of -5.92 and a beta of 3.16. The company’s fifty day moving average is $4.51 and its two-hundred day moving average is $3.98.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results 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 last year, the business earned ($0.19) EPS. Equities analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright started coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Eric Lentell sold 114,788 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total transaction of $773,671.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,069,958 shares of company stock valued at $5,461,608. 9.75% of the stock is owned by insiders.

Archer Aviation 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.