Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz Sells 80,919 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 80,919 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the transaction, the chief technology officer now directly owns 1,253,294 shares in the company, valued at approximately $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, March 31st, Thomas Paul Muniz sold 52,958 shares of Archer Aviation stock. The shares were sold at an average price of $7.04, for a total transaction of $372,824.32.
• 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 transaction of $764,024.80.

Archer Aviation Stock Up 8.9%

Shares of NYSE:ACHR opened at $13.27 on Monday. The firm has a market cap of $7.20 billion, a PE ratio of -10.05 and a beta of 3.13. The company has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $8.18. 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 Inc. has a 12-month low of $2.82 and a 12-month high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in ACHR. 180 Wealth Advisors LLC acquired a new stake in Archer Aviation in the fourth quarter valued at $105,000. Hennion & Walsh Asset Management Inc. raised its holdings in Archer Aviation by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 55,750 shares of the company’s stock valued at $544,000 after acquiring an additional 11,317 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in Archer Aviation in the fourth quarter valued at $6,039,000. Avanza Fonder AB bought a new stake in Archer Aviation during the fourth quarter valued at $674,000. Finally, Sara Bay Financial bought a new stake in Archer Aviation during the fourth quarter valued at $104,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Raymond James lifted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Friday. Finally, Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.