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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Friday. Stock traders acquired 98,492 call options on the company. This is an increase of approximately 53% compared to the average volume of 64,502 call options.

Analyst Ratings Changes

Several research firms recently issued reports on ACHR. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group upped their price target on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total value of $960,000.00. Following the transaction, the insider now owns 197,355 shares of the company’s stock, valued at $1,263,072. This represents a 43.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder N.V. Stellantis purchased 751,879 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently modified their holdings of ACHR. Bank of New York Mellon Corp increased its stake in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Principal Financial Group Inc. increased its stake in Archer Aviation by 75.6% in the 2nd quarter. Principal Financial Group Inc. now owns 31,064 shares of the company’s stock valued at $109,000 after purchasing an additional 13,372 shares in the last quarter. Rhumbline Advisers increased its stake in Archer Aviation by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock valued at $1,098,000 after purchasing an additional 70,575 shares in the last quarter. Arizona State Retirement System increased its stake in Archer Aviation by 13.7% in the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock valued at $210,000 after purchasing an additional 7,184 shares in the last quarter. Finally, Choreo LLC purchased a new position in Archer Aviation in the 2nd quarter valued at approximately $49,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Down 14.6 %

Archer Aviation stock opened at $8.95 on Friday. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The stock has a 50 day moving average of $7.54 and a two-hundred day moving average of $4.99. 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 stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts expect 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.