Thomas Paul Muniz Sells 52,958 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 52,958 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $372,824.32. Following the transaction, the chief technology officer now directly owns 1,173,905 shares of the company’s stock, valued at approximately $8,264,291.20. The trade was a 4.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 4th, Thomas Paul Muniz sold 99,224 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80.
• On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00.

Archer Aviation Price Performance

ACHR stock opened at $7.21 on Thursday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -5.46 and a beta of 3.14. The company’s fifty day simple moving average is $8.61 and its 200 day simple moving average is $6.95. 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 earnings results 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, analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Canaccord Genuity Group boosted their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Needham & Company LLC lifted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Institutional Trading of Archer Aviation

Several large investors have recently modified their holdings of ACHR. EP Wealth Advisors LLC boosted its stake in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after acquiring an additional 1,000 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after buying an additional 1,224 shares during the period. Sanctuary Advisors LLC increased its position in Archer Aviation by 4.7% in the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after buying an additional 1,246 shares in the last quarter. Finally, Xponance Inc. raised its stake in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the period. Institutional investors and hedge funds 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.