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 on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now directly owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. The trade was a 8.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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 value 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 Up 1.2 %

Shares of NYSE ACHR traded up $0.10 during trading hours on Tuesday, hitting $7.98. 29,942,203 shares of the company traded hands, compared to its average volume of 33,566,488. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -6.04 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $9.56 and its 200 day moving average price is $6.31. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

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

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently bought and sold shares of the business. Total Wealth Planning & Management Inc. bought a new position in Archer Aviation in the 4th quarter valued at $450,000. Infinitum Asset Management LLC bought a new position in shares of Archer Aviation during the 4th quarter worth $10,844,000. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation during the 4th quarter worth $27,000. PharVision Advisers LLC bought a new position in shares of Archer Aviation during the 4th quarter worth $187,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Archer Aviation by 62.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after buying an additional 215,593 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACHR. Needham & Company LLC increased their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

About Archer Aviation

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.