Archer Aviation (NYSE:ACHR) CTO Thomas Paul Muniz Sells 91,839 Shares

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, May 15th, Thomas Paul Muniz sold 44,740 shares of Archer Aviation stock. The stock was sold at an average price of $6.06, for a total value of $271,124.40.
• On Friday, March 13th, Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock. The shares were sold at an average price of $6.27, for a total value of $60,066.60.
• 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 value of $611,923.50.

Archer Aviation Trading Down 0.1%

NYSE:ACHR opened at $5.92 on Wednesday. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. The stock has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $7.21.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the business earned ($0.17) EPS. Sell-side analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently bought and sold shares of the business. Bank of Jackson Hole Trust boosted its position in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after acquiring an additional 1,107 shares during the period. Farther Finance Advisors LLC boosted its position in Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after acquiring an additional 1,220 shares during the period. HighPoint Advisor Group LLC boosted its position in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after acquiring an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC boosted its position in Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after acquiring an additional 1,254 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ACHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Canaccord Genuity Group decreased their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Needham & Company LLC decreased their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

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.