Archer Aviation Sees Unusually Large Options Volume (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the target of some unusual options trading on Friday. Stock investors acquired 57,689 call options on the company. This is an increase of 1,112% compared to the average daily volume of 4,760 call options.

Archer Aviation Stock Up 17.6 %

Shares of NYSE ACHR opened at $3.67 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -2.25 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01. The business has a 50-day moving average of $3.59 and a two-hundred day moving average of $4.67. Archer Aviation has a 1 year low of $3.00 and a 1 year high of $7.49.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the prior year, the firm earned ($0.46) earnings per share. On average, analysts forecast that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, June 17th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a report on Tuesday, May 21st. Finally, Barclays decreased their target price on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating for the company in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

Institutional Trading of Archer Aviation

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Archer Aviation by 20.1% during the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock worth $42,123,000 after purchasing an additional 1,394,872 shares in the last quarter. Spire Wealth Management increased its position in shares of Archer Aviation by 33.4% during the fourth quarter. Spire Wealth Management now owns 44,943 shares of the company’s stock worth $276,000 after purchasing an additional 11,248 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after purchasing an additional 8,246 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Archer Aviation during the fourth quarter worth about $230,000. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Archer Aviation by 11.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 111,163 shares of the company’s stock worth $693,000 after purchasing an additional 11,163 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

About Archer Aviation

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.