Archer Aviation (NYSE:ACHR) CTO Sells $271,124.40 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 44,740 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $6.06, for a total transaction of $271,124.40. Following the transaction, the chief technology officer owned 1,554,153 shares of the company’s stock, valued at $9,418,167.18. The trade was a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Monday, May 18th, Thomas Paul Muniz sold 91,839 shares of Archer Aviation stock. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05.
• On Friday, March 13th, Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock. The stock was sold at an average price of $6.27, for a total transaction of $60,066.60.
• On Thursday, March 5th, Thomas Paul Muniz sold 94,725 shares of Archer Aviation stock. The stock was sold at an average price of $6.46, for a total transaction of $611,923.50.

Archer Aviation Stock Performance

Shares of ACHR opened at $6.12 on Friday. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62. The firm has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $7.14. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of -5.56 and a beta of 3.13. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

ACHR has been the subject of several recent research reports. Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Institutional Trading of Archer Aviation

A number of large investors have recently added to or reduced their stakes in ACHR. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares during the last quarter. Strs Ohio acquired a new stake in Archer Aviation in the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its stake in Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after acquiring an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation in the third quarter valued at $29,000. Finally, Modus Advisors LLC acquired a new stake in Archer Aviation in the fourth quarter valued at $29,000. Institutional investors and hedge funds 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.