XTX Topco Ltd Sells 71,776 Shares of Archer Aviation Inc. (NYSE:ACHR)

XTX Topco Ltd lessened its stake in shares of Archer Aviation Inc. (NYSE:ACHR) by 54.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,333 shares of the company’s stock after selling 71,776 shares during the quarter. XTX Topco Ltd’s holdings in Archer Aviation were worth $578,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the fourth quarter worth approximately $29,000. Oarsman Capital Inc. increased its position in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of 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 acquiring an additional 2,975 shares in the last quarter. Finally, US Bancorp DE increased its position in Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after acquiring an additional 4,306 shares during the period. Institutional investors own 59.34% of the company’s stock.

Insider Buying and Selling

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of the 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 $332,871.00. Following the transaction, the general counsel now directly owns 53,225 shares in the company, valued at approximately $409,832.50. This represents a 44.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now owns 262,673 shares of the company’s stock, valued at $1,849,217.92. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock valued at $3,158,081 over the last quarter. Insiders own 9.75% of the company’s stock.

Archer Aviation Price Performance

Archer Aviation stock opened at $7.23 on Friday. The stock has a 50-day moving average price of $7.94 and a two-hundred day moving average price of $7.30. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a market capitalization of $3.92 billion, a PE ratio of -5.47 and a beta of 3.16. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Wall Street Analyst Weigh In

ACHR has been the topic of a number of analyst reports. Needham & Company LLC increased their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group upped their price objective 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. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.