Key Points
- CTO Thomas Paul Muniz sold 125,000 shares on Jan. 2 at an average of $8.00 for $1,000,000, cutting his position by 8.95% to 1,272,129 shares; he had also sold 90,648 shares on Nov. 17 at $7.49.
- Archer stock opened at $8.82 (12‑month range $5.48–$14.62) with a market cap of $5.74 billion, and analysts hold a mixed "Moderate Buy" consensus with an average price target of $12.14.
Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief technology officer owned 1,272,129 shares of the company's stock, valued at $10,177,032. The trade was a 8.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Thomas Paul Muniz also recently made the following trade(s):
- On Monday, November 17th, Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock. The shares were sold at an average price of $7.49, for a total transaction of $678,953.52.
Archer Aviation Stock Up 3.0%
ACHR opened at $8.82 on Wednesday. Archer Aviation Inc. has a 12 month low of $5.48 and a 12 month high of $14.62. The company has a market cap of $5.74 billion, a PE ratio of -7.00 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $8.31 and a 200 day moving average of $9.62.
Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). On average, sell-side analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.
Institutional Investors Weigh In On Archer Aviation
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in Archer Aviation in the 1st quarter worth approximately $27,000. AlphaQuest LLC lifted its holdings in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in Archer Aviation in the third quarter worth $29,000. Bank of Jackson Hole Trust increased its stake in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock valued at $32,000 after purchasing an additional 2,024 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ACHR shares. Canaccord Genuity Group lifted their target price on Archer Aviation from $12.00 to $13.00 and gave the company a "buy" rating in a report on Friday, November 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research report on Monday, November 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Needham & Company LLC lowered their target price on shares of Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a "neutral" rating and a $11.00 price target for the company. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.14.
View Our Latest Report on Archer Aviation
About Archer Aviation
(
Get Free Report)
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.
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