Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CTO Thomas Paul Muniz sold 52,958 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $372,824.32. Following the transaction, the chief technology officer now directly owns 1,173,905 shares in the company, valued at $8,264,291.20. This trade represents a 4.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Thomas Paul Muniz also recently made the following trade(s):
- 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 value of $764,024.80.
- On Tuesday, January 7th, Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00.
Archer Aviation Stock Down 3.9 %
NYSE:ACHR traded down $0.28 during mid-day trading on Thursday, hitting $6.92. 18,804,687 shares of the company's stock were exchanged, compared to its average volume of 19,614,890. The company has a market cap of $3.75 billion, a PE ratio of -5.25 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The business has a fifty day moving average price of $8.61 and a 200 day moving average price of $6.95.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.
Wall Street Analysts Forecast Growth
ACHR has been the topic of a number of analyst reports. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.
View Our Latest Stock Analysis on Archer Aviation
Hedge Funds Weigh In On Archer Aviation
Several institutional investors and hedge funds have recently modified their holdings of ACHR. ARK Investment Management LLC grew its position in Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $42,709,000. Alyeska Investment Group L.P. increased its position in shares of Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after acquiring an additional 3,064,280 shares in the last quarter. Two Sigma Investments LP raised its holdings in Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company's stock worth $29,377,000 after acquiring an additional 2,920,752 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after acquiring an additional 2,908,859 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.
About Archer Aviation
(
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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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