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

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its position in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after purchasing an additional 446,864 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock valued at $501,000 after buying an additional 36,840 shares during the period. HBK Investments L P bought a new position in Archer Aviation in the 3rd quarter valued at approximately $6,818,000. Finally, ARK Investment Management LLC boosted its position in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares during the period. Institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $8.14 on Thursday. The firm has a 50 day moving average of $8.81 and a 200-day moving average of $6.81. The company has a market cap of $4.41 billion, a price-to-earnings ratio of -6.16 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 49,273 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 303,985 shares of company stock worth $2,555,685 in the last three months. Company insiders own 9.75% of the company’s stock.

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.