Archer Aviation (NYSE:ACHR) CTO Thomas Paul Muniz Sells 91,839 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the transaction, the chief technology officer owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Friday, May 15th, Thomas Paul Muniz sold 44,740 shares of Archer Aviation stock. The stock was sold at an average price of $6.06, for a total transaction of $271,124.40.
• 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 shares were sold at an average price of $6.46, for a total transaction of $611,923.50.

Archer Aviation Price Performance

ACHR stock traded down $0.01 during trading on Tuesday, reaching $5.92. 49,532,138 shares of the company were exchanged, compared to its average volume of 39,406,728. The company has a 50-day moving average of $5.87 and a two-hundred day moving average of $7.21. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. Archer Aviation Inc. has a twelve month low of $4.80 and a twelve month high of $14.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06.

Archer Aviation (NYSE:ACHR) last issued 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 business had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the company earned ($0.17) EPS. As a group, equities analysts predict that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Several hedge funds have recently modified their holdings of ACHR. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation in the third quarter worth $29,000. Bank of Jackson Hole Trust raised its holdings in shares of Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares in the last quarter. Center for Financial Planning Inc. grew its stake in shares of Archer Aviation by 138.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after buying an additional 2,040 shares during the period. Finally, Gould Capital LLC increased its position in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

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

Archer Aviation Company Profile

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.