Kingsview Wealth Management LLC Reduces Position in Archer Aviation Inc. (NYSE:ACHR)

Kingsview Wealth Management LLC decreased its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,064 shares of the company’s stock after selling 67,307 shares during the period. Kingsview Wealth Management LLC owned about 0.06% of Archer Aviation worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HBK Investments L P bought a new stake in Archer Aviation during the third quarter valued at about $6,818,000. Sora Investors LLC bought a new position in shares of Archer Aviation during the 3rd quarter valued at approximately $3,429,000. Yarbrough Capital LLC purchased a new stake in Archer Aviation in the 4th quarter worth approximately $6,039,000. Stifel Financial Corp raised its stake in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after acquiring an additional 391,092 shares during the period. Finally, Barclays PLC lifted its holdings in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Archer Aviation Stock Performance

NYSE ACHR opened at $9.02 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The business has a 50 day simple moving average of $9.19 and a two-hundred day simple moving average of $5.72. The stock has a market capitalization of $3.83 billion, a PE ratio of -6.83 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its 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 quarter in the previous year, the firm earned ($0.19) EPS. On average, research analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group increased their price target on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.38.

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.