QRG Capital Management Inc. Acquires Shares of 130,902 Archer Aviation Inc. $ACHR

QRG Capital Management Inc. acquired a new stake in Archer Aviation Inc. (NYSE:ACHR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,902 shares of the company’s stock, valued at approximately $1,254,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in Archer Aviation in the 1st quarter valued at about $293,000. Integrated Wealth Concepts LLC grew its position in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after purchasing an additional 59,317 shares during the period. NewEdge Advisors LLC lifted its holdings in Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after purchasing an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Archer Aviation by 51.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after purchasing an additional 285,414 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tosha Perkins sold 45,018 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. The trade was a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 over the last 90 days. Corporate insiders own 7.65% of the company’s stock.

Archer Aviation Price Performance

ACHR stock opened at $8.64 on Wednesday. The company’s 50-day moving average price is $8.11 and its two-hundred day moving average price is $9.51. The firm has a market cap of $5.63 billion, a P/E ratio of -6.86 and a beta of 3.10. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12 month low of $5.48 and a 12 month high of $14.62.

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 the consensus estimate of ($0.20). On average, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ACHR shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.14.

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.