Newbridge Financial Services Group Inc. Buys Shares of 5,000 Archer Aviation Inc. (NYSE:ACHR)

Newbridge Financial Services Group Inc. purchased a new position in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors also recently made changes to their positions in the stock. Miller Wealth Advisors LLC bought a new position in Archer Aviation during the third quarter valued at about $26,000. GPS Wealth Strategies Group LLC boosted its position in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in shares of Archer Aviation in the 3rd quarter worth approximately $36,000. Narwhal Capital Management acquired a new position in shares of Archer Aviation in the 3rd quarter worth approximately $40,000. Finally, Tidal Investments LLC raised its holdings in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

Archer Aviation stock opened at $9.29 on Wednesday. The firm’s 50 day simple moving average is $9.30 and its 200-day simple moving average is $5.79. The company has a market cap of $3.95 billion, a P/E ratio of -7.03 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research reports. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Finally, Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Insider Transactions at Archer Aviation

In related news, Director Deborah Diaz purchased 5,150 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by insiders.

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.