Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CTO Sells 50,000 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 1,120,360 shares of the company’s stock, valued at $10,083,240. The trade was a 4.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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 %

Archer Aviation stock traded down $0.14 during trading on Wednesday, reaching $8.95. 79,245,727 shares of the company’s stock were exchanged, compared to its average volume of 12,401,131. The company’s 50-day moving average is $5.12 and its two-hundred day moving average is $4.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $10.58. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its earnings results 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 last year, the business posted ($0.19) earnings per share. On average, analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Institutional Trading of Archer Aviation

Several large investors have recently bought and sold shares of ACHR. HBK Investments L P acquired a new position in shares of Archer Aviation during the third quarter worth $6,818,000. Sora Investors LLC acquired a new position in Archer Aviation in the 3rd quarter worth $3,429,000. Stifel Financial Corp boosted its position in Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after buying an additional 391,092 shares during the last quarter. Barclays PLC grew its stake 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 acquiring an additional 312,440 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after acquiring an additional 268,896 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACHR. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group increased their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. 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 MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

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.