Archer Aviation (NYSE:ACHR) CTO Sells $271,124.40 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 44,740 shares of Archer Aviation stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $6.06, for a total transaction of $271,124.40. Following the completion of the transaction, the chief technology officer directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $5.95, for a total transaction 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 transaction of $60,066.60.
• On Thursday, March 5th, Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock. The stock was sold at an average price of $6.46, for a total value of $611,923.50.

Archer Aviation Stock Performance

NYSE:ACHR traded down $0.01 on Tuesday, hitting $5.92. The company’s stock had a trading volume of 49,532,138 shares, compared to its average volume of 39,406,728. Archer Aviation Inc. has a one year low of $4.80 and a one year high of $14.62. The firm has a market capitalization of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13. The stock has a fifty day moving average of $5.87 and a two-hundred day moving average of $7.21. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Research analysts predict that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ACHR. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group dropped their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Finally, Needham & Company LLC lowered their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gould Capital LLC grew its stake in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio acquired a new position in shares of Archer Aviation in the 1st quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares during the period. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the third quarter worth $29,000. Finally, Modus Advisors LLC bought a new stake in Archer Aviation during the fourth quarter worth $29,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.