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 company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,120,360 shares of the company’s stock, valued at $10,083,240. This represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 value of $3,327,668.52.

Archer Aviation Stock Down 1.5 %

NYSE ACHR opened at $8.95 on Thursday. The stock has a 50 day moving average price of $5.12 and a 200-day moving average price of $4.18. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $10.58. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market capitalization of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company posted ($0.19) EPS. As a group, equities analysts predict that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the period. HBK Investments L P purchased a new stake in Archer Aviation during the 3rd quarter valued at $6,818,000. Charles Schwab Investment Management Inc. lifted its position in Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after buying an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Archer Aviation by 23.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after buying an additional 254,460 shares during the period. Finally, Sora Investors LLC bought a new position in Archer Aviation during the third quarter valued at $3,429,000. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ACHR shares. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. Finally, Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.63.

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.