Thomas Paul Muniz Sells 86,133 Shares of Archer Aviation (NYSE:ACHR) Stock

Key Points

• Thomas Paul Muniz, Chief Technology Officer of Archer Aviation, sold 86,133 shares at an average price of $9.83, totaling approximately $846,687, reducing his ownership by 6.09%.
• Archer Aviation reported a quarterly loss of ($0.36) earnings per share, missing the consensus estimate of ($0.24) by ($0.12).
• Several analysts have given Archer Aviation a "Moderate Buy" rating, with a consensus target price of $13.43, while institutional investors own 59.34% of the company's stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Archer Aviation Price Performance

Shares of NYSE:ACHR traded down $0.5550 during midday trading on Tuesday, hitting $9.2950. The company had a trading volume of 28,132,719 shares, compared to its average volume of 32,208,378. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92. The company has a fifty day moving average of $10.53 and a two-hundred day moving average of $9.39.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. lifted their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group restated a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.43.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP raised its position in Archer Aviation by 87.0% during the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after acquiring an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation in the fourth quarter valued at $27,000. Strs Ohio purchased a new position in shares of Archer Aviation in the first quarter valued at $27,000. Tidemark LLC boosted its stake in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares during the period. Finally, AlphaQuest LLC raised its holdings in Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock valued at $28,000 after acquiring an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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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