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

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 88.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,732 shares of the company’s stock after purchasing an additional 26,222 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Archer Aviation were worth $169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management grew its stake in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. Hsbc Holdings PLC grew its stake in Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares in the last quarter. CWM LLC grew its stake in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Archer Aviation by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after purchasing an additional 5,611 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Archer Aviation by 13.7% during the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after buying an additional 7,184 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $3.19 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -1.96 and a beta of 2.31. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $7.01. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $3.32 and its 200 day simple moving average is $3.70.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.07. Equities research analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at approximately $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 27.17% of the company’s stock.

Archer Aviation Company 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.