Archer Aviation (NYSE:ACHR) CTO Sells $1,000,000.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 17th, Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock. The shares were sold at an average price of $7.49, for a total transaction of $678,953.52.

Archer Aviation Trading Up 3.0%

Shares of ACHR traded up $0.26 during mid-day trading on Tuesday, reaching $8.82. 41,869,779 shares of the company’s stock were exchanged, compared to its average volume of 29,895,622. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The company has a 50-day simple moving average of $8.31 and a two-hundred day simple moving average of $9.62. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, meeting analysts’ consensus estimates of ($0.20). As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on ACHR shares. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Canaccord Genuity Group lifted their price objective on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Needham & Company LLC reduced their target price on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.14.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in shares of Archer Aviation by 20.1% in the 1st quarter. Baird Financial Group Inc. now owns 208,302 shares of the company’s stock worth $1,481,000 after purchasing an additional 34,891 shares during the period. EP Wealth Advisors LLC increased its position in Archer Aviation by 23.5% during the 1st quarter. EP Wealth Advisors LLC now owns 19,762 shares of the company’s stock worth $141,000 after purchasing an additional 3,762 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Archer Aviation during the 1st quarter worth approximately $4,977,000. AQR Capital Management LLC purchased a new position in Archer Aviation in the first quarter valued at approximately $293,000. Finally, Integrated Wealth Concepts LLC lifted its position in Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.