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

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 218.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 177,508 shares of the company’s stock after buying an additional 121,776 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Archer Aviation were worth $1,731,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ACHR. Barclays PLC boosted its stake in Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after acquiring an additional 312,440 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after purchasing an additional 446,864 shares during the period. Private Advisor Group LLC grew its stake in Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after buying an additional 36,840 shares during the last quarter. HBK Investments L P acquired a new position in Archer Aviation during the third quarter worth approximately $6,818,000. Finally, ARK Investment Management LLC lifted its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after buying an additional 6,371,647 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Needham & Company LLC upped their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 49,273 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 303,985 shares of company stock worth $2,555,685. Corporate insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.84 on Friday. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a 50-day moving average price of $8.78 and a 200 day moving average price of $6.81. The company has a market cap of $4.26 billion, a P/E ratio of -5.94 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. Research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

About Archer Aviation

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.