Virtu Financial LLC Sells 67,311 Shares of Archer Aviation Inc. (NYSE:ACHR)

Virtu Financial LLC cut its stake in Archer Aviation Inc. (NYSE:ACHR) by 69.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,517 shares of the company’s stock after selling 67,311 shares during the quarter. Virtu Financial LLC’s holdings in Archer Aviation were worth $181,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vestor Capital LLC bought a new position in Archer Aviation in the 4th quarter valued at about $61,000. Janney Montgomery Scott LLC bought a new position in shares of Archer Aviation during the third quarter worth approximately $52,000. Keating Wealth Management LLC acquired a new stake in Archer Aviation during the 4th quarter worth approximately $69,000. StoneX Group Inc. bought a new stake in Archer Aviation in the 4th quarter valued at $70,000. Finally, AXQ Capital LP acquired a new position in Archer Aviation in the 3rd quarter valued at $71,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ACHR shares. Benchmark reissued a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Tuesday, May 21st. Barclays decreased their target price on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. reduced their price target on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Archer Aviation Stock Performance

Shares of NYSE:ACHR opened at $3.66 on Monday. Archer Aviation Inc. has a 1 year low of $3.00 and a 1 year high of $7.49. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -2.25 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01. The company’s 50 day simple moving average is $3.59 and its 200 day simple moving average is $4.64.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the prior year, the business earned ($0.46) earnings per share. As a group, research analysts predict that Archer Aviation Inc. will post -1.33 EPS for the current fiscal year.

Archer Aviation 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.