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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 60,653 call options on the stock. This is an increase of approximately 36% compared to the typical daily volume of 44,487 call options.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Adam D. Goldstein acquired 19,762 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the acquisition, the chief executive officer now owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,069,958 shares of company stock valued at $5,461,608. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. HBK Investments L P acquired a new stake in Archer Aviation during the 3rd quarter worth $6,818,000. Sora Investors LLC acquired a new stake in shares of Archer Aviation during the third quarter worth about $3,429,000. Intellectus Partners LLC lifted its holdings in shares of Archer Aviation by 136.1% in the 2nd quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after purchasing an additional 523,024 shares during the last quarter. Stifel Financial Corp boosted its position 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 valued at $1,391,000 after purchasing an additional 391,092 shares during the period. Finally, Barclays PLC boosted its position in shares of Archer Aviation by 272.7% in 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 period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Down 2.8 %

NYSE ACHR opened at $7.18 on Friday. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $9.84. The firm has a 50 day moving average of $4.78 and a two-hundred day moving average of $4.05. 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 stock has a market capitalization of $3.05 billion, a PE ratio of -5.44 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the business posted ($0.19) EPS. As a group, research analysts expect that Archer Aviation will post -1.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACHR. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Finally, HC Wainwright started coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.33.

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.