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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Friday. Traders purchased 101,030 call options on the stock. This is an increase of 39% compared to the typical volume of 72,523 call options.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACHR shares. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Finally, Canaccord Genuity Group increased their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $11.38.

Insider Activity at Archer Aviation

In other news, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares in the last quarter. River Street Advisors LLC bought a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $195,000. Spire Wealth Management boosted its holdings in Archer Aviation by 266.7% in the fourth quarter. Spire Wealth Management now owns 16,500 shares of the company’s stock worth $161,000 after acquiring an additional 12,000 shares in the last quarter. Dumont & Blake Investment Advisors LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $160,000. Finally, PFG Investments LLC grew its holdings in shares of Archer Aviation by 16.3% in the fourth quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock worth $223,000 after acquiring an additional 3,192 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Price Performance

NYSE:ACHR opened at $9.96 on Friday. Archer Aviation has a 52-week low of $2.82 and a 52-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’s 50-day simple moving average is $8.70 and its 200 day simple moving average is $5.39. The company has a market cap of $4.23 billion, a P/E ratio of -7.54 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results 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 quarter in the prior year, the business posted ($0.19) EPS. As a group, sell-side analysts forecast that Archer Aviation will post -1.31 EPS for the current fiscal 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.