Archer Aviation Inc. (NYSE:ACHR) Shares Purchased by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Archer Aviation Inc. (NYSE:ACHR) by 218.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 177,508 shares of the company’s stock after acquiring an additional 121,776 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Archer Aviation were worth $1,731,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in Archer Aviation by 708.3% in 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. Tidal Investments LLC boosted its stake in 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. US Bancorp DE grew its holdings in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after buying an additional 4,306 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $45,000 after buying an additional 5,000 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Down 3.5 %

Shares of ACHR stock opened at $7.84 on Friday. The company has a 50-day moving average of $8.78 and a two-hundred day moving average of $6.81. The firm has a market cap of $4.26 billion, a PE ratio of -5.94 and a beta of 3.14. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. 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 (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In related news, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC boosted their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Raymond James lifted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

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.