Archer Aviation Target of Unusually Large Options Trading (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading on Friday. Investors bought 90,573 call options on the company. This is an increase of 63% compared to the average volume of 55,683 call options.

Insider Activity

In related news, CEO Adam D. Goldstein sold 805,170 shares of the 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 completion of the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Spellacy sold 191,513 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The disclosure for this sale can be found here. Over the last three months, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC bought a new stake in Archer Aviation in the third quarter worth $26,000. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% in 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 last quarter. Code Waechter LLC bought a new position in Archer Aviation in the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV purchased a new stake in Archer Aviation during the 3rd quarter valued at about $31,000. Finally, Cyndeo Wealth Partners LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at about $36,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $11.33 on Friday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $5.91 and its two-hundred day moving average price is $4.44. The stock has a market cap of $4.82 billion, a P/E ratio of -8.58 and a beta of 3.19. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $11.36.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 previous year, the company posted ($0.19) earnings per share. As a group, equities analysts predict that Archer Aviation will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.