Intellectus Partners LLC Reduces Stake in Archer Aviation Inc. $ACHR

Intellectus Partners LLC lowered its position in Archer Aviation Inc. (NYSE:ACHR) by 13.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 530,997 shares of the company’s stock after selling 81,075 shares during the period. Archer Aviation comprises about 1.0% of Intellectus Partners LLC’s investment portfolio, making the stock its 19th biggest holding. Intellectus Partners LLC’s holdings in Archer Aviation were worth $5,087,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ACHR. Orion Porfolio Solutions LLC purchased a new position in Archer Aviation in the third quarter worth about $191,000. ARK Investment Management LLC grew its stake in shares of Archer Aviation by 5.8% during the 3rd quarter. ARK Investment Management LLC now owns 31,301,449 shares of the company’s stock valued at $299,868,000 after purchasing an additional 1,715,945 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Archer Aviation by 48.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 294,764 shares of the company’s stock valued at $2,824,000 after purchasing an additional 95,850 shares during the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at about $148,000. Finally, Fox Hill Wealth Management bought a new position in shares of Archer Aviation in the 3rd quarter worth approximately $340,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE ACHR opened at $6.27 on Friday. The company has a quick ratio of 18.19, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a twelve month low of $5.48 and a twelve month high of $14.62. The business has a 50-day moving average price of $7.64 and a 200-day moving average price of $8.75. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of -6.33 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.40 million. The business’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the sale, the chief technology officer owned 1,272,129 shares in the company, valued at $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACHR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Needham & Company LLC decreased their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped 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. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Company 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.