Archer Aviation (NYSE:ACHR) CTO Sells $60,066.60 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 9,580 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $60,066.60. Following the sale, the chief technology officer owned 1,352,208 shares in the company, valued at approximately $8,478,344.16. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, March 5th, Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total transaction of $611,923.50.
• On Friday, January 2nd, Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00.

Archer Aviation Trading Up 1.6%

ACHR traded up $0.10 during trading on Monday, hitting $6.13. 34,232,629 shares of the company’s stock traded hands, compared to its average volume of 29,777,946. The company’s 50 day simple moving average is $7.46 and its two-hundred day simple moving average is $8.61. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. Archer Aviation’s revenue was up 29900.0% on a year-over-year basis. As a group, equities analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vestor Capital LLC raised its holdings in Archer Aviation by 1,014.7% in the 2nd quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock worth $3,024,000 after purchasing an additional 253,666 shares during the period. Handelsbanken Fonder AB bought a new stake in Archer Aviation during the second quarter valued at about $1,324,000. Voya Investment Management LLC increased its position in Archer Aviation by 180.0% in the third quarter. Voya Investment Management LLC now owns 418,366 shares of the company’s stock worth $4,008,000 after buying an additional 268,955 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Archer Aviation by 16.6% in the second quarter. Cetera Investment Advisers now owns 374,059 shares of the company’s stock worth $4,059,000 after buying an additional 53,135 shares during the period. Finally, Marex Group plc purchased a new position in shares of Archer Aviation during the 2nd quarter valued at about $24,699,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ACHR shares. Needham & Company LLC dropped their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group began coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.