Miller Wealth Advisors LLC Trims Holdings in Archer Aviation Inc. (NYSE:ACHR)

Miller Wealth Advisors LLC trimmed its stake in Archer Aviation Inc. (NYSE:ACHR) by 34.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,282 shares of the company’s stock after selling 2,718 shares during the period. Archer Aviation accounts for about 0.0% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 29th biggest position. Miller Wealth Advisors LLC’s holdings in Archer Aviation were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Barclays PLC increased its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the period. HBK Investments L P purchased a new stake in Archer Aviation during the 3rd quarter worth approximately $6,818,000. Yarbrough Capital LLC purchased a new stake in Archer Aviation during the 4th quarter worth approximately $6,039,000. Benjamin Edwards Inc. increased its stake in Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after buying an additional 105,425 shares during the period. Finally, Apollon Wealth Management LLC purchased a new stake in Archer Aviation during the 4th quarter worth approximately $296,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACHR. Cantor Fitzgerald upped their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.33.

Archer Aviation Trading Up 5.5 %

NYSE ACHR opened at $8.20 on Thursday. 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 stock has a market capitalization of $3.49 billion, a PE ratio of -6.21 and a beta of 3.14. The firm has a 50 day moving average of $9.61 and a two-hundred day moving average of $6.19.

Insider Activity

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the transaction, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Eric Lentell sold 114,788 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $6.74, for a total transaction of $773,671.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,057,729 shares of company stock worth $8,473,770. Corporate insiders own 9.75% of the company’s stock.

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.