Insider Selling: Archer Aviation (NYSE:ACHR) CTO Sells 90,648 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 90,648 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $678,953.52. Following the completion of the transaction, the chief technology officer directly owned 1,397,129 shares in the company, valued at $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Archer Aviation Stock Performance

Archer Aviation stock traded up $0.17 during trading hours on Tuesday, reaching $7.59. 57,693,906 shares of the company were exchanged, compared to its average volume of 69,731,488. Archer Aviation Inc. has a 12 month low of $4.33 and a 12 month high of $14.62. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $10.23 and a 200 day moving average of $10.23. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -6.02 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). As a group, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Cantor Fitzgerald set a $13.00 price target on Archer Aviation in a research report on Monday, November 10th. Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, Needham & Company LLC cut their target price on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.57.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Archer Aviation by 45.8% in the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after acquiring an additional 16,452,398 shares during the period. ARK Investment Management LLC increased its stake in shares of Archer Aviation by 5.8% in the third quarter. ARK Investment Management LLC now owns 31,301,449 shares of the company’s stock valued at $299,868,000 after buying an additional 1,715,945 shares in the last quarter. Geode Capital Management LLC increased its position in Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock valued at $130,125,000 after acquiring an additional 3,671,753 shares in the last quarter. Alpine Global Management LLC increased its holdings in shares of Archer Aviation by 16.7% in the first quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock valued at $30,583,000 after purchasing an additional 615,481 shares in the last quarter. Finally, Man Group plc increased its stake in shares of Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after buying an additional 4,182,400 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.