Virtu Financial LLC Has $2.56 Million Stake in Archer Aviation Inc. (NYSE:ACHR)

Key Points

• Virtu Financial LLC increased its stake in Archer Aviation Inc. by 704.2% in Q1, owning 359,555 shares valued at $2.56 million.
• Institutional investors collectively own 59.34% of Archer Aviation's stock, indicating strong interest from the financial sector.
• Archer Aviation reported an EPS of ($0.17) for the last quarter, surpassing analyst estimates and maintaining a consensus rating of "Moderate Buy" from research analysts.

Virtu Financial LLC lifted its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 704.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,555 shares of the company's stock after buying an additional 314,844 shares during the quarter. Virtu Financial LLC owned about 0.07% of Archer Aviation worth $2,556,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after purchasing an additional 1,664 shares during the period. Sunbelt Securities Inc. acquired a new position in Archer Aviation during the fourth quarter valued at approximately $27,000. Tidemark LLC grew its holdings in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares during the period. Anchor Investment Management LLC grew its holdings in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the period. Finally, ORG Partners LLC acquired a new position in Archer Aviation during the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $9.71 on Friday. The company's fifty day simple moving average is $10.58 and its 200-day simple moving average is $9.37. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.33 billion, a PE ratio of -7.41 and a beta of 3.08. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.04. Equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 13,210 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the sale, the chief financial officer directly owned 134,104 shares of the company's stock, valued at approximately $1,742,010.96. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark Mesler sold 50,775 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $659,567.25. Following the sale, the chief financial officer directly owned 711,525 shares in the company, valued at $9,242,709.75. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 326,960 shares of company stock valued at $4,018,019 over the last 90 days. 7.65% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ACHR. UBS Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

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.

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