Archer Aviation Inc. $ACHR Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 3,207.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 85,202 shares of the company’s stock after acquiring an additional 82,626 shares during the period. AlphaQuest LLC’s holdings in Archer Aviation were worth $816,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Clear Creek Financial Management LLC purchased a new stake in Archer Aviation during the 2nd quarter worth approximately $465,000. Vestor Capital LLC increased its position in shares of Archer Aviation by 1,014.7% during the second quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock worth $3,024,000 after purchasing an additional 253,666 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Archer Aviation by 57.5% during the second quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company’s stock worth $1,242,000 after purchasing an additional 41,800 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Archer Aviation in the 2nd quarter valued at $2,389,000. Finally, Handelsbanken Fonder AB purchased a new position in Archer Aviation during the second quarter worth approximately $1,324,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Finally, Canaccord Genuity Group raised their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $12.14.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the sale, the insider directly owned 334,632 shares in the company, valued at $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 5,479 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares in the company, valued at $1,209,807.27. This represents a 3.28% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 307,635 shares of company stock valued at $2,367,936. 7.65% of the stock is owned by insiders.

Archer Aviation Stock Down 1.9%

Shares of NYSE ACHR opened at $7.06 on Tuesday. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $8.17 and its two-hundred day moving average is $9.31. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -5.60 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). Research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

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.