Archer Aviation Inc. (NYSE:ACHR) CTO Sells $1,051,137.81 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 80,919 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the completion of the sale, the chief technology officer now owns 1,253,294 shares of the company’s stock, valued at $16,280,289.06. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, March 31st, Thomas Paul Muniz sold 52,958 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total transaction of $372,824.32.
• 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.

Archer Aviation Price Performance

Archer Aviation stock opened at $13.27 on Monday. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92. The stock has a market capitalization of $7.20 billion, a P/E ratio of -10.05 and a beta of 3.13. The firm’s 50-day moving average is $8.16 and its two-hundred day moving average is $8.18. 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 released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after acquiring an additional 446,864 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after acquiring an additional 36,840 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of 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 acquiring an additional 6,371,647 shares during the last quarter. Yarbrough Capital LLC acquired a new stake in shares of Archer Aviation in the fourth quarter worth approximately $6,039,000. Finally, Apollon Wealth Management LLC acquired a new stake in shares of Archer Aviation in the fourth quarter worth approximately $296,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 price target on shares of Archer Aviation in a report on Friday. Raymond James raised their target price 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, Canaccord Genuity Group raised their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.