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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading on Friday. Traders bought 153,487 call options on the company. This is an increase of 595% compared to the typical volume of 22,085 call options.

Archer Aviation Price Performance

Shares of Archer Aviation stock opened at $5.79 on Friday. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -4.39 and a beta of 2.29. The company has a fifty day moving average of $3.37 and a 200-day moving average of $3.63. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $7.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 in the previous year, the company earned ($0.19) earnings per share. Equities research analysts expect that Archer Aviation will post -1.2 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein purchased 19,762 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $5.12 per share, with a total value of $101,181.44. Following the acquisition, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. Hollencrest Capital Management boosted its holdings in shares of Archer Aviation by 50.0% during the second 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 period. Townsquare Capital LLC lifted its holdings in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the period. Hsbc Holdings PLC grew its position in shares of Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares during the last quarter. CWM LLC increased its stake in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Archer Aviation by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock valued at $115,000 after acquiring an additional 4,505 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACHR has been the subject of several research analyst reports. Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday. They set a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright initiated coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.