Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz Sells 50,000 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Thomas Paul Muniz also recently made the following trade(s):

• On Monday, December 16th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The shares were sold at an average price of $9.00, for a total value of $450,000.00.
• On Wednesday, December 11th, Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $8.95 on Friday. The stock’s 50-day simple moving average is $7.54 and its 200-day simple moving average is $4.99. The firm has a market capitalization of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. 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 (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) EPS. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC purchased a new position in shares of Archer Aviation during the third quarter worth about $26,000. Versant Capital Management Inc boosted its position in shares of Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares during the period. Hollencrest Capital Management grew its stake in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the last quarter. Code Waechter LLC acquired a new position in Archer Aviation during the third quarter worth approximately $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new stake in Archer Aviation in the third quarter valued at approximately $31,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald upped their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

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.