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 firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $7.59, for a total transaction of $3,327,668.52.

Archer Aviation Trading Down 14.6 %

Shares of ACHR opened at $8.95 on Monday. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a 50 day simple moving average of $7.65 and a two-hundred day simple moving average of $5.04. 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 firm has a market cap of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the firm earned ($0.19) EPS. On average, equities 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 hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. HBK Investments L P bought a new stake in Archer Aviation in the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. raised its stake in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Archer Aviation by 23.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares during the last quarter. Finally, Sora Investors LLC purchased a new position in shares of Archer Aviation in the 3rd quarter worth $3,429,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ACHR shares. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.38.

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.