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 stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, December 16th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The shares were 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 stock was sold at an average price of $7.59, for a total value of $3,327,668.52.

Archer Aviation Stock Down 14.6 %

ACHR opened at $8.95 on Friday. The firm’s 50 day simple moving average is $7.65 and its two-hundred day simple moving average is $5.04. The company has a market capitalization of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the company earned ($0.19) earnings per share. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald increased their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday. 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 for the company. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACHR. Hollencrest Capital Management lifted its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares during the period. Tidal Investments LLC lifted its stake in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after buying an additional 3,339 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares during the period. Finally, Versant Capital Management Inc increased its stake in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after buying an additional 3,430 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.