Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CTO Thomas Paul Muniz sold 438,428 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the transaction, the chief technology officer now owns 1,170,360 shares of the company's stock, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NYSE:ACHR traded up $1.23 on Friday, reaching $8.40. The company had a trading volume of 83,975,687 shares, compared to its average volume of 11,755,604. The firm has a market capitalization of $3.57 billion, a PE ratio of -5.88 and a beta of 3.19. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $9.84. The firm's 50 day simple moving average is $4.78 and its 200-day simple moving average is $4.05.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) EPS. As a group, analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter valued at $26,000. Hollencrest Capital Management raised its stake in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after buying an additional 3,000 shares during the last quarter. CWM LLC boosted its holdings in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Code Waechter LLC purchased a new stake in shares of Archer Aviation during the third quarter worth about $30,000. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation during the third quarter worth about $31,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on ACHR. HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a "buy" rating and a $12.50 target price for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Friday. Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.
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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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