Archer Aviation Inc. (NYSE:ACHR) CTO Sells $372,824.32 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 52,958 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $372,824.32. Following the transaction, the chief technology officer now owns 1,173,905 shares of the company’s stock, valued at $8,264,291.20. This represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $12.00, for a total value of $600,000.00.

Archer Aviation Stock Up 3.6 %

Shares of NYSE ACHR opened at $7.21 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 capitalization of $3.91 billion, a PE ratio of -5.46 and a beta of 3.14. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The business’s fifty day moving average price is $8.61 and its 200-day moving average price is $6.95.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC boosted its holdings in shares of Archer Aviation by 6.7% in 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 during the period. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% in 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 during the period. Anchor Investment Management LLC grew its holdings in Archer Aviation by 58.3% during 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 in the last quarter. Sanctuary Advisors LLC increased its position in shares of Archer Aviation by 4.7% during the fourth 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 during the period. Finally, Xponance Inc. lifted its holdings in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ACHR shares. Canaccord Genuity Group upped 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. Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC boosted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.61.

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.