Quadrature Capital Ltd Purchases New Position in Archer Aviation Inc. (NYSE:ACHR)

Quadrature Capital Ltd purchased a new stake in Archer Aviation Inc. (NYSE:ACHR) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 94,163 shares of the company’s stock, valued at approximately $578,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 20.1% during the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after acquiring an additional 1,394,872 shares during the period. Spire Wealth Management increased its stake in shares of Archer Aviation by 33.4% during the fourth quarter. Spire Wealth Management now owns 44,943 shares of the company’s stock worth $276,000 after acquiring an additional 11,248 shares during the period. Victory Capital Management Inc. increased its stake in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after acquiring an additional 8,246 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Archer Aviation during the fourth quarter worth about $230,000. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Archer Aviation by 11.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 111,163 shares of the company’s stock worth $693,000 after acquiring an additional 11,163 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Up 17.3 %

Shares of NYSE ACHR opened at $3.66 on Friday. Archer Aviation Inc. has a 12-month low of $3.00 and a 12-month high of $7.49. The company has a market capitalization of $1.18 billion, a PE ratio of -2.25 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01. The firm’s 50-day moving average is $3.59 and its two-hundred day moving average is $4.66.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same quarter in the prior year, the firm earned ($0.46) EPS. Equities analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.

Analyst Ratings Changes

ACHR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Monday, June 17th. Benchmark restated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Tuesday, May 21st. Finally, Barclays lowered their target price on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $8.10.

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.