Hollencrest Capital Management Buys 1,800 Shares of Archer Aviation Inc. (NYSE:ACHR)

Hollencrest Capital Management lifted its holdings in Archer Aviation Inc. (NYSE:ACHR) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,000 shares of the company’s stock after purchasing an additional 1,800 shares during the quarter. Hollencrest Capital Management’s holdings in Archer Aviation were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ACHR. GPS Wealth Strategies Group LLC raised its stake in shares of Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares during the last quarter. US Bancorp DE raised its stake in shares of Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after purchasing an additional 4,306 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after purchasing an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Up 9.8 %

NYSE ACHR opened at $7.48 on Thursday. The stock’s 50-day moving average price is $9.18 and its 200-day moving average price is $6.46. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a market capitalization of $4.05 billion, a P/E ratio of -5.66 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief technology officer now owns 1,120,360 shares in the company, valued at approximately $10,083,240. This trade represents a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. This represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 545,498 shares of company stock valued at $4,920,815 over the last quarter. 9.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on ACHR shares. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Cantor Fitzgerald upped 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. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC upped their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

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.