Stifel Financial Corp Has $1.39 Million Position in Archer Aviation Inc. (NYSE:ACHR)

Stifel Financial Corp raised its holdings in Archer Aviation Inc. (NYSE:ACHR) by 574.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 459,171 shares of the company’s stock after purchasing an additional 391,092 shares during the period. Stifel Financial Corp’s holdings in Archer Aviation were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ACHR. Miller Wealth Advisors LLC bought a new stake in Archer Aviation in the third quarter valued at about $26,000. Code Waechter LLC acquired a new stake in Archer Aviation during the third quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management raised its holdings in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in shares of Archer Aviation in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $9.49 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a 50 day simple moving average of $5.48 and a 200 day simple moving average of $4.30. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58. The firm has a market cap of $4.04 billion, a P/E ratio of -7.19 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) earnings per share. Sell-side analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total transaction of $1,915,130.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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 trade represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Needham & Company LLC started coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.63.

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.