Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz Sells 438,428 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 438,428 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the sale, the chief technology officer now directly owns 1,170,360 shares of the company’s stock, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Archer Aviation Stock Up 17.0 %

Shares of Archer Aviation stock opened at $8.39 on Monday. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $9.84. 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 stock’s 50-day moving average is $4.89 and its 200 day moving average is $4.10. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -6.36 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. HC Wainwright assumed coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday. Finally, Canaccord Genuity Group increased their price target on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $10.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Price T Rowe Associates Inc. MD raised its stake in shares of Archer Aviation by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after purchasing an additional 5,611 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Archer Aviation in the first quarter worth approximately $80,000. CWM LLC raised its stake in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the last quarter. Intellectus Partners LLC raised its stake in shares of Archer Aviation by 136.1% in the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after purchasing an additional 523,024 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of Archer Aviation by 44.4% in the second quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after purchasing an additional 192,120 shares during the last quarter. Institutional investors 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.