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 business’s stock in a transaction 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 directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 stock traded down $1.53 during mid-day trading on Friday, hitting $8.95. 37,599,729 shares of the company were exchanged, compared to its average volume of 41,136,836. The firm has a fifty day simple moving average of $7.54 and a 200 day simple moving average of $4.99. 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 twelve month low of $2.82 and a twelve month 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 quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) earnings per share. On average, research analysts forecast that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $9.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. Canaccord Genuity Group boosted their price target on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Institutional Trading of Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the business. HBK Investments L P bought a new stake in shares of Archer Aviation during the 3rd quarter valued at about $6,818,000. Sora Investors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $3,429,000. Stifel Financial Corp boosted its position in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after purchasing an additional 391,092 shares during the period. Barclays PLC grew 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 buying an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.