Insider Selling: Archer Aviation (NYSE:ACHR) CTO Sells $546,442.05 in Stock

Archer Aviation Inc. (NYSE:ACHR) CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the transaction, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, May 15th, Thomas Paul Muniz sold 44,740 shares of Archer Aviation stock. The stock was sold at an average price of $6.06, for a total transaction of $271,124.40.
• On Friday, March 13th, Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock. The shares were 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 shares were sold at an average price of $6.46, for a total transaction of $611,923.50.

Archer Aviation Stock Performance

ACHR opened at $6.12 on Friday. 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 fifty day moving average of $5.85 and a 200 day moving average of $7.14. Archer Aviation Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share 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 the consensus estimate of $1.66 million. During the same period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. Gould Capital LLC lifted its position in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after purchasing an additional 2,507 shares during the last quarter. Strs Ohio bought a new position in Archer Aviation during the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its position in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation during the third quarter valued at $29,000. Finally, Modus Advisors LLC bought a new position in Archer Aviation during the fourth quarter valued at $29,000. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

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

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.