Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz Sells 52,958 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 52,958 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $372,824.32. Following the completion of the sale, the chief technology officer now owns 1,173,905 shares in the company, valued at approximately $8,264,291.20. This represents a 4.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00.

Archer Aviation Price Performance

Shares of ACHR opened at $6.96 on Wednesday. The business’s 50-day moving average is $8.67 and its 200-day moving average is $6.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -5.27 and a beta of 3.14. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ACHR shares. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC raised their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. ARK Investment Management LLC grew its stake in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation during the 4th quarter valued at about $42,709,000. Alyeska Investment Group L.P. grew its stake in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock valued at $48,748,000 after buying an additional 3,064,280 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock valued at $29,377,000 after buying an additional 2,920,752 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after buying an additional 2,908,859 shares during the last quarter. 59.34% of the stock is 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.