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 firm’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 transaction of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares of the company’s stock, valued at approximately $10,083,240. This represents a 4.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $7.59, for a total value of $3,327,668.52.

Archer Aviation Stock Down 5.9 %

Archer Aviation stock opened at $8.42 on Friday. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -6.38 and a beta of 3.19. The company’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $4.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share 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) EPS. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent research reports. Needham & Company LLC initiated coverage on Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price for the company. HC Wainwright restated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $10.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings in shares of Archer Aviation by 29.9% in the third 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 acquired a new position in shares of Archer Aviation in the 3rd quarter valued at approximately $80,000. Barclays PLC increased its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Geode Capital Management LLC raised its holdings in Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in Archer Aviation in the third quarter valued at approximately $583,000. 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.