Thomas Paul Muniz Sells 52,958 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 52,958 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $372,824.32. Following the sale, the chief technology officer now owns 1,173,905 shares of the company’s stock, valued at $8,264,291.20. The trade was a 4.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, March 4th, Thomas Paul Muniz sold 99,224 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total value of $764,024.80.
• On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The stock was sold at an average price of $12.00, for a total value of $600,000.00.

Archer Aviation Stock Performance

ACHR opened at $6.93 on Friday. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -5.25 and a beta of 3.14. The business’s 50-day moving average price is $8.56 and its two-hundred day moving average price is $6.95. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced 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. Equities analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC increased their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group raised their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Institutional Trading of Archer Aviation

A number of institutional investors have recently made changes to their positions in ACHR. Wellington Management Group LLP acquired a new stake in Archer Aviation in the 4th quarter valued at $15,912,000. California State Teachers Retirement System increased its position in shares of Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock valued at $2,354,000 after acquiring an additional 50,104 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in Archer Aviation during the fourth quarter worth about $450,000. Infinitum Asset Management LLC acquired a new position in Archer Aviation during the fourth quarter valued at approximately $10,844,000. Finally, Sunbelt Securities Inc. bought a new position in Archer Aviation in the fourth quarter valued at approximately $27,000. 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.