Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 89.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,069 shares of the company's stock after selling 591,991 shares during the quarter. Voya Investment Management LLC's holdings in Archer Aviation were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Conquis Financial LLC purchased a new stake in Archer Aviation in the 4th quarter valued at $29,000. Oarsman Capital Inc. increased its stake in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. raised 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 buying an additional 1,095 shares during the last quarter. Anchor Investment Management LLC boosted its stake in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after buying an additional 1,224 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its position in Archer Aviation by 708.3% in the 4th 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 during the period. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

ACHR has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Needham & Company LLC restated a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Monday, April 21st. Raymond James raised their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. Two investment analysts have 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 currently has an average rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Price Performance

ACHR stock traded up $0.05 during midday trading on Friday, hitting $8.81. 14,495,140 shares of the stock were exchanged, compared to its average volume of 21,552,079. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -6.67 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The stock's 50-day moving average price is $7.74 and its 200-day moving average price is $7.82.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the sale, the chief financial officer now directly owns 630,243 shares of the company's stock, valued at $4,852,871.10. This trade represents a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 474,780 shares of company stock worth $3,581,581. 9.75% of the stock is owned by insiders.

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.