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

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

Insider Activity at Archer Aviation

In related news, CEO Adam D. Goldstein acquired 19,762 shares of Archer Aviation stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $5.12 per share, with a total value of $101,181.44. Following the transaction, the chief executive officer now directly owns 2,014,890 shares in the company, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 9.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC increased its holdings in Archer Aviation by 266.5% during the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after buying an additional 30,075 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Archer Aviation in the 1st quarter worth approximately $266,000. CreativeOne Wealth LLC purchased a new position in Archer Aviation in the first quarter valued at approximately $117,000. Axxcess Wealth Management LLC grew its holdings in Archer Aviation by 48.0% during the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after purchasing an additional 9,713 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in Archer Aviation in the first quarter worth $5,782,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Trading Up 14.3 %

Shares of Archer Aviation stock opened at $5.79 on Friday. 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 fifty day simple moving average of $3.37 and a 200 day simple moving average of $3.63. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $7.01. The company has a market capitalization of $2.46 billion, a P/E ratio of -4.39 and a beta of 2.29.

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 quarter in the prior year, the firm posted ($0.19) EPS. On average, sell-side analysts anticipate that Archer Aviation will post -1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on ACHR shares. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday. They issued a “buy” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

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.