IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Position in Archer Aviation Inc. $ACHR

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 93.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,421,989 shares of the company’s stock after purchasing an additional 686,306 shares during the quarter. Archer Aviation comprises about 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s investment portfolio, making the stock its 22nd biggest position. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.22% of Archer Aviation worth $13,623,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AlphaQuest LLC boosted its stake in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. Bank of Jackson Hole Trust increased its stake in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after acquiring an additional 1,702 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Archer Aviation in the third quarter worth approximately $33,000. Finally, Advisors Asset Management Inc. boosted its position in shares of Archer Aviation by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 3,622 shares of the company’s stock worth $39,000 after acquiring an additional 1,471 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Down 6.7%

Shares of NYSE ACHR opened at $6.49 on Friday. The stock has a fifty day moving average price of $8.14 and a 200 day moving average price of $9.24. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62. The company has a market cap of $4.22 billion, a P/E ratio of -5.15 and a beta of 3.11.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. The Goldman Sachs Group began coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price on the stock. Canaccord Genuity Group lifted their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.14.

Insider Buying and Selling

In other news, CFO Priya Gupta sold 5,479 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Lentell sold 41,490 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares of the company’s stock, valued at $627,160.17. This trade represents a 33.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 307,635 shares of company stock valued at $2,367,936. Insiders own 7.65% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.