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

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

Archer Aviation Trading Up 2.2%

Shares of ACHR stock opened at $7.59 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. Archer Aviation Inc. has a 52-week low of $4.33 and a 52-week high of $14.62. The company has a market capitalization of $4.94 billion, a PE ratio of -6.02 and a beta of 3.07. The business’s fifty day moving average is $10.23 and its 200 day moving average is $10.23.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Strs Ohio bought a new stake in shares of Archer Aviation in the 1st quarter worth approximately $27,000. Tidemark LLC grew its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares during the last quarter. AlphaQuest LLC raised its position in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after purchasing an additional 2,375 shares during the period. Johnson Investment Counsel Inc. purchased a new position in Archer Aviation in the 3rd quarter worth $29,000. Finally, Bank of Jackson Hole Trust lifted its stake in Archer Aviation by 45.9% in the third 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. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Cantor Fitzgerald set a $13.00 price target on shares of Archer Aviation in a research note on Monday, November 10th. JPMorgan Chase & Co. decreased their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Needham & Company LLC lowered their price objective on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

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.