Intellectus Partners LLC Grows Position in Archer Aviation Inc. (NYSE:ACHR)

Intellectus Partners LLC grew its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 919,020 shares of the company’s stock after purchasing an additional 11,800 shares during the quarter. Intellectus Partners LLC’s holdings in Archer Aviation were worth $2,790,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ACHR. Hollencrest Capital Management raised its holdings in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Hsbc Holdings PLC increased its stake in Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares during the last quarter. CWM LLC increased its stake in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Archer Aviation by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares in the last quarter. Finally, PFG Investments LLC boosted its stake in shares of Archer Aviation by 36.0% in the 3rd quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock worth $59,000 after buying an additional 5,200 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $4.28 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.24 and a beta of 2.29. The company’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $3.62. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $7.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 4.49.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) earnings per share. As a group, analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Archer Aviation Profile

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.