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

Virtu Financial LLC cut its holdings in Archer Aviation Inc. (NYSE:ACHR - Free Report) by 71.5% during the 4th quarter, according to its most recent 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 quarter. Virtu Financial LLC's holdings in Archer Aviation were worth $436,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ACHR. Barclays PLC grew its stake in shares of Archer Aviation by 272.7% in the third 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 period. Charles Schwab Investment Management Inc. grew its position in Archer Aviation by 24.4% in the 4th 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 period. Private Advisor Group LLC raised its stake in Archer Aviation by 253.4% during the 4th 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 last quarter. HBK Investments L P purchased a new stake in Archer Aviation during the 3rd quarter valued at $6,818,000. Finally, ARK Investment Management LLC lifted its holdings in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after buying an additional 6,371,647 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tosha Perkins sold 49,273 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Raymond James raised their price objective 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. HC Wainwright restated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Canaccord Genuity Group increased their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $11.61.

Archer Aviation Price Performance

Archer Aviation stock traded down $0.60 during mid-day trading on Friday, hitting $7.26. The stock had a trading volume of 23,798,717 shares, compared to its average volume of 19,470,038. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm's 50 day moving average is $8.75 and its 200 day moving average is $6.89. The firm has a market capitalization of $3.94 billion, a P/E ratio of -5.50 and a beta of 3.14. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Archer Aviation Company 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.