Archer Aviation Target of Unusually High Options Trading (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading on Tuesday. Traders bought 113,304 call options on the stock. This is an increase of 740% compared to the typical volume of 13,489 call options.

Insider Activity at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 27.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Narwhal Capital Management acquired a new position in Archer Aviation during the third quarter worth approximately $40,000. Cyndeo Wealth Partners LLC acquired a new position in Archer Aviation during the third quarter worth approximately $36,000. Stratos Wealth Advisors LLC increased its position in Archer Aviation by 157.4% during the third quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company’s stock worth $176,000 after buying an additional 35,554 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in Archer Aviation by 88.9% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 55,732 shares of the company’s stock worth $169,000 after buying an additional 26,222 shares during the period. Finally, Creative Planning increased its position in Archer Aviation by 74.1% during the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after buying an additional 12,278 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. JPMorgan Chase & Co. increased their price target on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Stock Performance

Shares of ACHR opened at $3.12 on Thursday. The stock has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.66. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market capitalization of $1.01 billion, a PE ratio of -1.91 and a beta of 2.31. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $7.01.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.07. On average, analysts predict that Archer Aviation will post -1.2 earnings per share for the current fiscal year.

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.