Stock Traders Buy High Volume of Call Options on Archer Aviation (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the target of some unusual options trading activity on Thursday. Investors bought 60,653 call options on the company. This represents an increase of approximately 36% compared to the typical volume of 44,487 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ACHR shares. Needham & Company LLC started coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. HC Wainwright started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday. Finally, Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a 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 stock has an average rating of “Moderate Buy” and an average price target of $10.25.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently added to or reduced their stakes in the business. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation in the third quarter worth about $26,000. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the third quarter worth about $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation in the third quarter worth about $31,000. Hollencrest Capital Management lifted its holdings in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of 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 buying an additional 3,559 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Price Performance

NYSE ACHR opened at $8.40 on Friday. The company has a market cap of $3.57 billion, a PE ratio of -6.36 and a beta of 3.19. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $9.84. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $4.89 and its two-hundred day simple moving average is $4.09.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the firm earned ($0.19) EPS. Research analysts predict that Archer Aviation will post -1.28 earnings per share for the current year.

Archer Aviation Company Profile

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.