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 firm’s stock in a transaction dated 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 owns 1,120,360 shares of the company’s stock, valued at approximately $10,083,240. The trade was a 4.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was sold at an average price of $7.59, for a total value of $3,327,668.52.

Archer Aviation Price Performance

NYSE ACHR traded down $0.14 during trading hours on Wednesday, reaching $8.95. The company’s stock had a trading volume of 79,245,727 shares, compared to its average volume of 12,401,131. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company’s 50-day moving average is $5.12 and its two-hundred day moving average is $4.18. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58. The stock has a market cap of $3.81 billion, a PE ratio of -6.78 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data 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 last year, the firm earned ($0.19) EPS. Analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently made changes to their positions in the stock. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation during the 3rd quarter worth about $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation during the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the third quarter worth about $31,000. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. One equities research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $10.63.

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.