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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Friday. Traders acquired 153,487 call options on the stock. This represents an increase of approximately 595% compared to the typical volume of 22,085 call options.

Insider Activity 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 stock was sold at an average price of $4.63, for a total transaction 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. This represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management boosted its stake in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the period. Townsquare Capital LLC raised its holdings in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Archer Aviation by 14.8% during the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares during the period. CWM LLC grew its holdings in shares of Archer Aviation by 62.0% during 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 during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Archer Aviation by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analysts Set New Price Targets

ACHR has been the topic of several analyst reports. HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Finally, Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Archer Aviation Stock Up 4.5 %

Shares of NYSE:ACHR opened at $6.04 on Friday. The firm has a 50 day simple moving average of $3.48 and a 200-day simple moving average of $3.66. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $7.01. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.57 billion, a PE ratio of -4.58 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last announced its quarterly 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. On average, equities analysts predict that Archer Aviation will post -1.2 EPS for the current fiscal 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.