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 stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

Archer Aviation Trading Down 14.6 %

Shares of ACHR opened at $8.95 on Friday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The firm has a market capitalization of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.15. The firm has a 50-day moving average price of $7.54 and a 200 day moving average price of $4.99. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) EPS. Sell-side analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter valued at $26,000. Code Waechter LLC acquired a new position in Archer Aviation in the third quarter valued at about $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation during the third quarter worth about $31,000. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at approximately $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACHR. Canaccord Genuity Group raised their target price on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC initiated coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $6.00 to $9.00 in a research note on Friday. Finally, Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.38.

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.