DekaBank Deutsche Girozentrale Buys Shares of 37,820 Archer Aviation Inc. $ACHR

DekaBank Deutsche Girozentrale bought a new stake in shares of Archer Aviation Inc. (NYSE:ACHR) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 37,820 shares of the company’s stock, valued at approximately $410,000.

Several other large investors also recently added to or reduced their stakes in ACHR. Wealth Enhancement Advisory Services LLC acquired a new stake in Archer Aviation during the 1st quarter valued at $176,000. Janney Montgomery Scott LLC raised its stake in Archer Aviation by 64.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company’s stock valued at $581,000 after purchasing an additional 31,933 shares during the period. Western Wealth Management LLC acquired a new stake in Archer Aviation during the 1st quarter valued at $82,000. Clay Northam Wealth Management LLC acquired a new stake in Archer Aviation during the 1st quarter valued at $116,000. Finally, KBC Group NV acquired a new stake in Archer Aviation during the 1st quarter valued at $136,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,936 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $481,040.88. Following the transaction, the insider directly owned 47,518 shares of the company’s stock, valued at $467,101.94. This represents a 50.74% 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, CFO Priya Gupta sold 10,224 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the transaction, the chief financial officer directly owned 147,153 shares in the company, valued at $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,068 shares of company stock valued at $1,848,708. Corporate insiders own 7.65% of the company’s stock.

Archer Aviation Trading Up 3.7%

Archer Aviation stock opened at $11.31 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The company has a market capitalization of $7.30 billion, a price-to-earnings ratio of -8.38 and a beta of 3.06. Archer Aviation Inc. has a one year low of $3.05 and a one year high of $14.62. The company’s fifty day moving average price is $10.11 and its two-hundred day moving average price is $10.02.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

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.