Archer Aviation Inc. (NYSE:ACHR) CTO Sells $372,824.32 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 52,958 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $372,824.32. Following the sale, the chief technology officer now directly owns 1,173,905 shares of the company’s stock, 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 SEC, which is available through this link.

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 stock was 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 value of $600,000.00.

Archer Aviation Price Performance

Shares of NYSE ACHR traded down $0.16 during midday trading on Tuesday, reaching $6.96. 20,537,891 shares of the company traded hands, compared to its average volume of 19,553,241. The firm has a market cap of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock’s 50-day simple moving average is $8.67 and its 200-day simple moving average is $6.94. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACHR has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Needham & Company LLC increased their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of the business. ARK Investment Management LLC boosted 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 worth $291,643,000 after purchasing an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after buying an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 14.2% in the fourth quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock valued at $56,908,000 after buying an additional 724,736 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Archer Aviation during the 4th quarter worth about $42,709,000. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

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.