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 business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the transaction, the chief technology officer now owns 1,120,360 shares of the company’s stock, valued at $10,083,240. This trade represents a 4.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 11th, Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock. The stock was sold at an average price of $7.59, for a total value of $3,327,668.52.

Archer Aviation Stock Down 1.5 %

Shares of Archer Aviation stock opened at $8.95 on Thursday. 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 has a market cap of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.19. The firm’s 50-day moving average is $5.12 and its two-hundred day moving average is $4.18. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $10.58.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the company posted ($0.19) EPS. As a group, research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. Tidal Investments LLC raised its position in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Archer Aviation in the third quarter valued at about $80,000. Barclays PLC lifted its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Archer Aviation by 5.6% in 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. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter valued at about $583,000. Institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ACHR shares. Canaccord Genuity Group upped their price objective on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC started coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.63.

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.