Thomas Paul Muniz Sells 125,000 Shares of Archer Aviation (NYSE:ACHR) Stock

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

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 stock was sold at an average price of $7.49, for a total transaction of $678,953.52.

Archer Aviation Price Performance

ACHR stock opened at $8.43 on Thursday. The firm has a 50 day moving average price of $8.25 and a 200-day moving average price of $9.61. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of -6.69 and a beta of 3.10. Archer Aviation Inc. has a 52-week low of $5.48 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ACHR shares. Canaccord Genuity Group upped 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. Needham & Company LLC lowered 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Six 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Archer Aviation by 77.8% in the third quarter. Allworth Financial LP now owns 5,225 shares of the company’s stock worth $50,000 after purchasing an additional 2,286 shares during the last quarter. IFP Advisors Inc grew its position in Archer Aviation by 47.3% in the third quarter. IFP Advisors Inc now owns 12,612 shares of the company’s stock worth $122,000 after acquiring an additional 4,050 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in Archer Aviation by 71.7% during the third quarter. Swiss Life Asset Management Ltd now owns 24,214 shares of the company’s stock worth $232,000 after acquiring an additional 10,109 shares during the last quarter. Cantor Fitzgerald L. P. increased its stake in Archer Aviation by 395.3% during the third quarter. Cantor Fitzgerald L. P. now owns 44,300 shares of the company’s stock worth $424,000 after acquiring an additional 59,300 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Archer Aviation during the third quarter valued at approximately $563,000. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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.