Archer Aviation Inc. (NYSE:ACHR) CTO Sells $1,051,137.81 in Stock

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CTO Thomas Paul Muniz sold 80,919 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the transaction, the chief technology officer now owns 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. This represents a 6.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 31st, Thomas Paul Muniz sold 52,958 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total value of $372,824.32.
• On Tuesday, March 4th, Thomas Paul Muniz sold 99,224 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80.

Archer Aviation Stock Performance

NYSE ACHR traded up $1.08 during trading hours on Friday, reaching $13.27. The company's stock had a trading volume of 71,502,560 shares, compared to its average volume of 22,604,615. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $8.16 and a 200 day simple moving average of $8.11. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $14.35. The stock has a market cap of $7.20 billion, a PE ratio of -10.05 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. Equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in the business. Arete Wealth Advisors LLC raised its holdings in shares of Archer Aviation by 81.4% during the first quarter. Arete Wealth Advisors LLC now owns 91,111 shares of the company's stock valued at $648,000 after buying an additional 40,875 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Archer Aviation by 5.1% during the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after purchasing an additional 1,738 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company's stock valued at $1,366,000 after purchasing an additional 59,317 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of 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 purchasing an additional 1,373 shares in the last quarter. Finally, Granahan Investment Management LLC raised its holdings in Archer Aviation by 31.8% during the first quarter. Granahan Investment Management LLC now owns 2,800,177 shares of the company's stock worth $19,909,000 after purchasing an additional 676,013 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACHR shares. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.61.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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