Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz Sells 99,224 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 99,224 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The shares were sold at an average price of $12.00, for a total value of $600,000.00.
• 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 value of $3,327,668.52.

Archer Aviation Stock Performance

Archer Aviation stock traded up $0.10 during trading on Tuesday, hitting $7.98. The stock had a trading volume of 29,942,203 shares, compared to its average volume of 33,566,488. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $9.56 and its two-hundred day moving average is $6.31. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -6.04 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC raised its holdings in Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock valued at $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. raised its holdings in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the period. Anchor Investment Management LLC increased its holdings in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 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.