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

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Archer Aviation Inc. (NYSE:ACHR) by 93.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,421,989 shares of the company’s stock after purchasing an additional 686,306 shares during the period. Archer Aviation comprises 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 22nd largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Archer Aviation were worth $13,623,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC raised its position in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares in the last quarter. Bank of Jackson Hole Trust increased its stake in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares in the last quarter. Sound Income Strategies LLC bought a new position in Archer Aviation during the 3rd quarter valued at $33,000. Finally, Advisors Asset Management Inc. grew its holdings in Archer Aviation by 68.4% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Wednesday, January 14th. JPMorgan Chase & Co. cut their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Stock Down 6.7%

NYSE:ACHR opened at $6.49 on Friday. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $8.14 and a 200-day moving average of $9.24. The firm has a market capitalization of $4.22 billion, a PE ratio of -5.15 and a beta of 3.11. Archer Aviation Inc. has a 52 week low of $5.48 and a 52 week high of $14.62.

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

Insider Buying and Selling

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 307,635 shares of company stock valued at $2,367,936. 7.65% of the stock is owned by corporate insiders.

About Archer Aviation

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.