Archer Aviation (NYSE:ACHR) CTO Sells $60,066.60 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 9,580 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $60,066.60. Following the transaction, the chief technology officer directly owned 1,352,208 shares of the company’s stock, valued at $8,478,344.16. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 value of $611,923.50.
• On Friday, January 2nd, Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00.

Archer Aviation Stock Up 1.6%

Shares of Archer Aviation stock traded up $0.10 during midday trading on Monday, reaching $6.13. 34,232,629 shares of the company’s stock traded hands, compared to its average volume of 29,777,946. The stock has a 50 day moving average of $7.46 and a 200-day moving average of $8.61. Archer Aviation Inc. has a 12 month low of $5.48 and a 12 month high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The company’s quarterly revenue was up 29900.0% compared to the same quarter last year. Analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Needham & Company LLC dropped their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Canaccord Genuity Group increased their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Johnson Investment Counsel Inc. purchased a new position in Archer Aviation during the third quarter valued at $29,000. Bank of Jackson Hole Trust raised its position in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after purchasing an additional 986 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at about $33,000. Finally, Center for Financial Planning Inc. grew its position in Archer Aviation by 138.8% during the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock valued at $34,000 after purchasing an additional 2,040 shares during the last quarter. Institutional investors 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.