Virtu Financial LLC Sells 112,274 Shares of Archer Aviation Inc. (NYSE:ACHR)

Virtu Financial LLC lowered its holdings in Archer Aviation Inc. (NYSE:ACHR) by 71.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,711 shares of the company’s stock after selling 112,274 shares during the period. Virtu Financial LLC’s holdings in Archer Aviation were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACHR. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after purchasing an additional 2,975 shares in the last quarter. US Bancorp DE grew its stake in Archer Aviation by 2,725.3% in the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock valued at $44,000 after purchasing an additional 4,306 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Archer Aviation during the 4th quarter worth approximately $49,000. Finally, Amalgamated Bank raised its stake in shares of Archer Aviation by 50.7% during the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after purchasing an additional 2,680 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC upped their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Stock Performance

ACHR opened at $8.14 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a fifty day simple moving average of $8.81 and a 200 day simple moving average of $6.81. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a market capitalization of $4.41 billion, a PE ratio of -6.16 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. Research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

About Archer Aviation

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.