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

Miller Wealth Advisors LLC lessened its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 34.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,282 shares of the company’s stock after selling 2,718 shares during the period. Archer Aviation makes up 0.0% of Miller Wealth Advisors LLC’s holdings, making the stock its 29th biggest position. Miller Wealth Advisors LLC’s holdings in Archer Aviation were worth $52,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC grew its position 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 buying an additional 312,440 shares during the period. HBK Investments L P acquired a new stake in Archer Aviation during the third quarter valued at $6,818,000. Yarbrough Capital LLC acquired a new stake in Archer Aviation during the fourth quarter valued at $6,039,000. Benjamin Edwards Inc. grew its position in Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after buying an additional 105,425 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $296,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ACHR shares. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation 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 transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,057,729 shares of company stock valued at $8,473,770 over the last ninety days. Company insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

Shares of ACHR stock opened at $8.20 on Thursday. 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’s 50-day moving average is $9.61 and its two-hundred day moving average is $6.19. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market capitalization of $3.49 billion, a PE ratio of -6.21 and a beta of 3.14.

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.