Archer Aviation Inc. (NYSE:ACHR) CTO Sells $450,000.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the completion of the sale, the chief technology officer now owns 1,120,360 shares in the company, valued at approximately $10,083,240. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Trading Down 5.9 %

Archer Aviation stock opened at $8.42 on Friday. The stock has a 50-day simple moving average of $5.35 and a 200 day simple moving average of $4.25. The stock has a market capitalization of $3.58 billion, a P/E ratio of -6.38 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $10.58.

Archer Aviation (NYSE:ACHR) last issued its earnings results 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 period in the prior year, the company posted ($0.19) earnings per share. Analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. HBK Investments L P bought a new stake in shares of Archer Aviation during the 3rd quarter worth about $6,818,000. Benjamin Edwards Inc. lifted its position in Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after acquiring an additional 105,425 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after acquiring an additional 94,430 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $578,000. Finally, XTX Topco Ltd bought a new position in shares of Archer Aviation during the third quarter worth approximately $397,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

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.