Thomas Paul Muniz Sells 50,000 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief technology officer now owns 1,120,360 shares of the company’s stock, valued at approximately $10,083,240. This trade represents a 4.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, December 11th, Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock. The shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52.

Archer Aviation Stock Up 12.7 %

Shares of Archer Aviation stock opened at $9.49 on Friday. The stock has a 50-day simple moving average of $5.48 and a 200-day simple moving average of $4.29. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $10.58. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) EPS. On average, equities research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. Tidal Investments LLC raised its holdings in Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Archer Aviation in the 3rd quarter worth approximately $80,000. Barclays PLC boosted its position in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. Geode Capital Management LLC grew its holdings in Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. Finally, Main Management ETF Advisors LLC bought a new position in shares of Archer Aviation in the third quarter valued at approximately $583,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC started coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.

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.