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Apollon Wealth Management LLC Makes New Investment in Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation logo with Aerospace background

Apollon Wealth Management LLC acquired a new stake in Archer Aviation Inc. (NYSE:ACHR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 30,399 shares of the company's stock, valued at approximately $296,000.

Other institutional investors also recently bought and sold shares of the company. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth $26,000. GPS Wealth Strategies Group LLC increased its holdings in 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 acquiring an additional 2,975 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new position in Archer Aviation during the 3rd quarter valued at about $36,000. Narwhal Capital Management acquired a new stake in shares of Archer Aviation during the 3rd quarter worth about $40,000. Finally, Tidal Investments LLC boosted its stake in shares of Archer Aviation by 29.9% during 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 during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACHR has been the topic of several research analyst reports. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price target on shares of Archer Aviation in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus price target of $11.25.

Read Our Latest Stock Analysis on ACHR

Insider Buying and Selling

In other Archer Aviation news, CEO Adam D. Goldstein acquired 19,762 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the acquisition, the chief executive officer now directly owns 2,014,890 shares in the company, valued at $10,316,236.80. This trade represents a 0.99 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares of the company's stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. 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 1,057,729 shares worth $8,473,770. Insiders own 9.75% of the company's stock.

Archer Aviation Stock Up 6.9 %

Shares of ACHR traded up $0.72 during mid-day trading on Tuesday, reaching $11.07. 46,679,178 shares of the stock traded hands, compared to its average volume of 31,842,895. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of -8.39 and a beta of 3.13. The stock has a fifty day simple moving average of $9.48 and a 200 day simple moving average of $5.95. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. 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 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Archer Aviation (NYSE:ACHR)

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