Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CTO Sells $764,024.80 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the transaction, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. This represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00.
• 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 transaction of $450,000.00.
• 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 transaction of $3,327,668.52.

Archer Aviation Stock Down 7.1 %

ACHR opened at $7.56 on Friday. The company has a fifty day moving average price of $9.45 and a 200-day moving average price of $6.35. The firm has a market capitalization of $3.21 billion, a P/E ratio of -5.72 and a beta of 3.14. 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 one year low of $2.82 and a one year high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACHR. 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 research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. 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. Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC lifted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Institutional Trading of Archer Aviation

A number of hedge funds have recently made changes to their positions in ACHR. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth $26,000. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the 4th quarter worth $29,000. Harbour Investments Inc. lifted its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its holdings in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

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.