Archer Aviation Inc. (NYSE:ACHR – Get Free Report) 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
Check Out Our Latest Research Report on ACHR
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 – Get Free Report) 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.
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