XTX Topco Ltd Makes New $397,000 Investment in Archer Aviation Inc. (NYSE:ACHR)

XTX Topco Ltd purchased a new position in Archer Aviation Inc. (NYSE:ACHR - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 131,109 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACHR. HBK Investments L P bought a new position in Archer Aviation in the third quarter worth approximately $6,818,000. Charles Schwab Investment Management Inc. raised its position in shares of Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock worth $5,547,000 after acquiring an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock worth $4,651,000 after purchasing an additional 254,460 shares during the last quarter. Sora Investors LLC bought a new stake in Archer Aviation during the third quarter valued at about $3,429,000. Finally, Intellectus Partners LLC grew its stake in Archer Aviation by 1.3% in the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock valued at $2,790,000 after purchasing an additional 11,800 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ACHR has been the subject of several analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Friday. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.25.

Insiders Place Their Bets

In related news, major shareholder N.V. Stellantis bought 751,879 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the acquisition, the insider now directly owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Spellacy sold 63,000 shares of the business's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $7.10, for a total value of $447,300.00. Following the completion of the transaction, the director now directly owns 191,513 shares of the company's stock, valued at $1,359,742.30. The trade was a 24.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,571,386 shares valued at $9,236,577. 9.75% of the stock is currently owned by insiders.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded up $0.46 during mid-day trading on Monday, hitting $8.86. The stock had a trading volume of 70,138,574 shares, compared to its average volume of 11,997,867. The firm has a market cap of $3.77 billion, a PE ratio of -6.71 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a 50 day moving average of $5.00 and a two-hundred day moving average of $4.14. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $9.84.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business earned ($0.19) earnings per share. Research analysts predict that Archer Aviation Inc. will post -1.28 EPS 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.