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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading activity on Friday. Stock investors purchased 98,492 call options on the stock. This represents an increase of 53% compared to the typical volume of 64,502 call options.

Analyst Ratings Changes

A number of research firms have commented on ACHR. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Finally, Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Insider Buying and Selling

In related news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Diaz bought 5,150 shares of Archer Aviation stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the acquisition, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 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 company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in the company. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the third quarter valued at approximately $26,000. Code Waechter LLC purchased a new position in shares of Archer Aviation in the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation in the 3rd quarter worth $31,000. 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 acquiring an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $36,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 14.6 %

Shares of ACHR opened at $8.95 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 has a fifty day moving average of $7.54 and a 200 day moving average of $4.99. The company has a market cap of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $12.48.

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 the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company earned ($0.19) EPS. On average, sell-side analysts expect that Archer Aviation will post -1.28 EPS for the current 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.