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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading on Friday. Stock investors purchased 90,573 call options on the stock. This represents an increase of approximately 63% compared to the average daily volume of 55,683 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.63.

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz bought 5,150 shares of the stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management boosted its position in shares of Archer Aviation by 50.0% during 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 during the period. Townsquare Capital LLC boosted its position in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after acquiring an additional 3,033 shares during the last quarter. Tidal Investments LLC grew its stake in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after acquiring an additional 3,339 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Down 1.3 %

Shares of Archer Aviation stock opened at $11.18 on Friday. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $11.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $4.75 billion, a P/E ratio of -8.47 and a beta of 3.19. The business has a 50-day moving average of $6.07 and a two-hundred day moving average of $4.49.

Archer Aviation (NYSE:ACHR) last announced its earnings results 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 period in the previous year, the business posted ($0.19) EPS. As a group, equities analysts predict that Archer Aviation will post -1.28 EPS 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.