Insider Selling: Archer Aviation (NYSE:ACHR) CTO Sells 44,740 Shares of Stock

Archer Aviation Inc. (NYSE:ACHRGet Free Report) CTO Thomas Paul Muniz sold 44,740 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $6.06, for a total value of $271,124.40. Following the completion of the sale, the chief technology officer directly owned 1,554,153 shares in the company, valued at $9,418,167.18. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Monday, May 18th, Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock. The shares were sold at an average price of $5.95, for a total value of $546,442.05.
  • On Friday, March 13th, Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock. The stock was 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:ACHRGet Free Report) 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.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in ACHR. Vanguard Group Inc. boosted its holdings in Archer Aviation by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after acquiring an additional 2,312,899 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Archer Aviation by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the period. State Street Corp boosted its stake in shares of Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after purchasing an additional 3,293,130 shares during the last quarter. Morgan Stanley increased its position in shares of Archer Aviation by 21.6% during the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Archer Aviation by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after buying an additional 1,867,648 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACHR has been the topic of several recent research reports. Needham & Company LLC cut their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Canaccord Genuity Group dropped their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Check Out Our Latest Stock Analysis on ACHR

About Archer Aviation

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Archer Aviation (NYSE:ACHR)

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