Thomas Paul Muniz Sells 90,648 Shares of Archer Aviation (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 90,648 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $678,953.52. Following the completion of the transaction, the chief technology officer directly owned 1,397,129 shares of the company’s stock, valued at approximately $10,464,496.21. The trade was a 6.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Archer Aviation Price Performance

ACHR stock traded up $0.17 during trading on Tuesday, hitting $7.59. The company had a trading volume of 57,693,906 shares, compared to its average volume of 69,731,488. The business has a 50 day moving average of $10.23 and a 200 day moving average of $10.23. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -6.02 and a beta of 3.07. Archer Aviation Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). As a group, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on ACHR. Canaccord Genuity Group dropped their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Needham & Company LLC dropped their target price on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. cut their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Archer Aviation in the 1st quarter valued at approximately $27,000. Tidemark LLC lifted its stake in Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares during the last quarter. AlphaQuest LLC lifted its stake in Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation in the third quarter worth approximately $29,000. Finally, Bank of Jackson Hole Trust increased its stake in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares during the last quarter. Hedge funds and other 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.