AlphaQuest LLC Grows Stock Holdings in Archer Aviation Inc. $ACHR

AlphaQuest LLC grew its position in Archer Aviation Inc. (NYSE:ACHR) by 3,207.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,202 shares of the company’s stock after buying an additional 82,626 shares during the period. AlphaQuest LLC’s holdings in Archer Aviation were worth $816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Man Group plc lifted its position in Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after acquiring an additional 4,182,400 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Archer Aviation by 44.1% during the second quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock worth $130,125,000 after purchasing an additional 3,671,753 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Archer Aviation by 435.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company’s stock worth $40,688,000 after purchasing an additional 3,050,000 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Archer Aviation by 466.5% during the 2nd quarter. Invesco Ltd. now owns 3,650,429 shares of the company’s stock valued at $39,607,000 after purchasing an additional 3,006,039 shares during the last quarter. Finally, Marex Group plc acquired a new stake in shares of Archer Aviation in the 2nd quarter worth $24,699,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 1.9%

Archer Aviation stock opened at $7.06 on Tuesday. Archer Aviation Inc. has a 52 week low of $5.48 and a 52 week high of $14.62. The stock has a 50-day moving average price of $8.17 and a 200 day moving average price of $9.31. 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 company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -5.60 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

ACHR has been the topic of several recent analyst reports. Canaccord Genuity Group upped their target price on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. cut their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 5,479 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the transaction, the insider owned 83,733 shares of the company’s stock, valued at $627,160.17. The trade was a 33.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 307,635 shares of company stock valued at $2,367,936. Company insiders own 7.65% of the company’s stock.

Archer Aviation Profile

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.