Archer Aviation Inc. (NYSE:ACHR) CTO Sells $764,024.80 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 99,224 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. This represents a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $600,000.00.
• On Monday, December 16th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00.
• On Wednesday, December 11th, Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52.

Archer Aviation Stock Performance

Archer Aviation stock opened at $7.98 on Wednesday. The business has a 50 day moving average of $9.56 and a 200-day moving average of $6.31. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $3.39 billion, a P/E ratio of -6.04 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ACHR. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Needham & Company LLC boosted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC increased its position in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the period. Renaissance Technologies LLC acquired a new stake in Archer Aviation during the 4th quarter valued at approximately $42,709,000. Alyeska Investment Group L.P. increased 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 valued at $48,748,000 after purchasing an additional 3,064,280 shares during the period. Two Sigma Investments LP increased its position in Archer Aviation by 3,166.8% during the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock valued at $29,377,000 after purchasing an additional 2,920,752 shares during the period. Finally, Vanguard Group Inc. increased its position in Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.