Dumont & Blake Investment Advisors LLC Takes Position in Archer Aviation Inc. (NYSE:ACHR)

Dumont & Blake Investment Advisors LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 16,400 shares of the company’s stock, valued at approximately $160,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the third quarter worth $26,000. Code Waechter LLC acquired a new position in Archer Aviation during the third quarter worth $30,000. Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation during the third quarter worth $31,000. Cyndeo Wealth Partners LLC acquired a new position in Archer Aviation during the third quarter worth $36,000. Finally, Narwhal Capital Management acquired a new position in Archer Aviation during the third quarter worth $40,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a report on Thursday, January 16th. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 2.3 %

Shares of Archer Aviation stock opened at $9.25 on Friday. The firm has a 50-day moving average of $9.02 and a 200-day moving average of $5.52. The stock has a market cap of $3.93 billion, a PE ratio of -7.00 and a beta of 3.15. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. 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 (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company earned ($0.19) EPS. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Activity

In other news, CEO Adam D. Goldstein acquired 19,762 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the transaction, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This trade represents a 0.99 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by company insiders.

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.