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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Friday. Investors purchased 98,492 call options on the stock. This is an increase of approximately 53% compared to the typical daily volume of 64,502 call options.

Insider Buying and Selling

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were 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 owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently modified their holdings of the business. HBK Investments L P bought a new stake in shares of Archer Aviation during the 3rd quarter worth $6,818,000. Sora Investors LLC bought a new stake in Archer Aviation during the third quarter worth about $3,429,000. Stifel Financial Corp boosted its holdings in shares of Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares in the last quarter. Barclays PLC increased its position in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald increased their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Trading Down 14.6 %

Shares of ACHR stock opened at $8.95 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of -6.78 and a beta of 3.15. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a 50 day simple moving average of $7.54 and a two-hundred day simple moving average of $4.99.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business posted ($0.19) earnings per share. Research analysts forecast that Archer Aviation will post -1.28 earnings per share for the current 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.