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 Archer Aviation stock in a transaction that occurred 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 sale, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $3,327,668.52.

Archer Aviation Trading Down 14.6 %

NYSE ACHR opened at $8.95 on Friday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.15. The company’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $5.04.

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

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Bank of New York Mellon Corp raised its stake in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Archer Aviation by 75.6% in the second quarter. Principal Financial Group Inc. now owns 31,064 shares of the company’s stock worth $109,000 after purchasing an additional 13,372 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Archer Aviation by 29.3% during the second quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock worth $1,098,000 after purchasing an additional 70,575 shares during the period. Arizona State Retirement System boosted its position in Archer Aviation by 13.7% in the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock valued at $210,000 after buying an additional 7,184 shares during the last quarter. Finally, Choreo LLC acquired a new position in Archer Aviation in the 2nd quarter worth approximately $49,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ACHR shares. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a research note on Friday. Canaccord Genuity Group increased 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. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.