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

XTX Topco Ltd cut its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 54.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,333 shares of the company’s stock after selling 71,776 shares during the period. XTX Topco Ltd’s holdings in Archer Aviation were worth $578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. increased its holdings in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Archer Aviation by 4.7% during the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after acquiring an additional 1,246 shares during the last quarter. Xponance Inc. lifted its stake in shares of Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock valued at $162,000 after acquiring an additional 1,299 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Archer Aviation by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 24,423 shares of the company’s stock valued at $238,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Hollencrest Capital Management increased its position in Archer Aviation by 7.4% in the fourth quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock worth $254,000 after purchasing an additional 1,800 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACHR has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Needham & Company LLC raised their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 33,335 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 424,780 shares of company stock valued at $3,158,081 in the last ninety days. 9.75% of the stock is currently owned by corporate insiders.

Archer Aviation Stock Up 2.5 %

Shares of ACHR stock opened at $7.23 on Friday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $7.94 and a 200-day moving average of $7.30. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -5.47 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities research analysts predict 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.