Archer Aviation (NYSE:ACHR) CTO Thomas Paul Muniz Sells 44,740 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 44,740 shares of Archer Aviation stock in a transaction on Friday, May 15th. The stock was sold at an average price of $6.06, for a total value of $271,124.40. Following the sale, the chief technology officer owned 1,554,153 shares of the company’s stock, valued at approximately $9,418,167.18. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, May 18th, Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock. The stock was sold at an average price of $5.95, for a total value of $546,442.05.
• On Friday, March 13th, Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock. The shares were sold at an average price of $6.27, for a total value of $60,066.60.
• On Thursday, March 5th, Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total value of $611,923.50.

Archer Aviation Stock Performance

ACHR stock opened at $5.92 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The business has a 50-day moving average price of $5.87 and a 200 day moving average price of $7.21. The company has a market capitalization of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the prior year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Western Wealth Management LLC grew its stake in Archer Aviation by 22.0% in the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock valued at $119,000 after purchasing an additional 4,144 shares during the last quarter. Bank of America Corp DE grew its stake in Archer Aviation by 33.2% in the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock valued at $11,048,000 after purchasing an additional 532,762 shares during the last quarter. Amundi grew its stake in Archer Aviation by 134.9% in the first quarter. Amundi now owns 71,397 shares of the company’s stock valued at $369,000 after purchasing an additional 41,008 shares during the last quarter. California State Teachers Retirement System grew its stake in Archer Aviation by 21.0% in the first quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock valued at $3,702,000 after purchasing an additional 124,052 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new stake in shares of Archer Aviation during the first quarter worth about $709,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Canaccord Genuity Group cut their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Needham & Company LLC cut their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.83.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.