Intellectus Partners LLC Lowers Holdings in Archer Aviation Inc. $ACHR

Intellectus Partners LLC trimmed its stake in Archer Aviation Inc. (NYSE:ACHR) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 530,997 shares of the company’s stock after selling 81,075 shares during the quarter. Archer Aviation accounts for 1.0% of Intellectus Partners LLC’s portfolio, making the stock its 19th biggest holding. Intellectus Partners LLC owned about 0.08% of Archer Aviation worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ACHR. Bank of Jackson Hole Trust raised its position in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after purchasing an additional 1,107 shares in the last quarter. HighPoint Advisor Group LLC grew its position in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the last quarter. Clear Creek Financial Management LLC increased its stake in Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after purchasing an additional 1,254 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in Archer Aviation by 23.7% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company’s stock valued at $72,000 after purchasing an additional 1,269 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACHR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, Needham & Company LLC lowered their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Price Performance

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

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. The company’s quarterly revenue was up 29900.0% on a year-over-year basis. On average, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation 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 value of $1,000,000.00. Following the completion of the sale, the chief technology officer owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. The trade was a 8.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.65% of the company’s stock.

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.