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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Friday. Stock traders acquired 101,030 call options on the stock. This represents an increase of 39% compared to the average volume of 72,523 call options.

Archer Aviation Stock Performance

ACHR stock opened at $9.96 on Friday. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $12.48. The stock’s fifty day moving average price is $8.70 and its 200-day moving average price 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. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the company earned ($0.19) earnings per share. On average, equities analysts forecast that Archer Aviation will post -1.31 earnings per share for the current year.

Analyst Ratings Changes

ACHR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, 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 is accessible through this link. Also, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in the business. Blair William & Co. IL grew its stake in shares of Archer Aviation by 55.9% during the second quarter. Blair William & Co. IL now owns 89,834 shares of the company’s stock worth $316,000 after acquiring an additional 32,204 shares during the last quarter. Hsbc Holdings PLC boosted its position in 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 purchasing an additional 3,341 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Archer Aviation by 5,615.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 121,857 shares of the company’s stock worth $429,000 after acquiring an additional 119,725 shares during the period. Ensign Peak Advisors Inc raised its holdings in Archer Aviation by 47.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 158,792 shares of the company’s stock worth $559,000 after purchasing an additional 51,100 shares during the period. Finally, Xponance Inc. purchased a new position in shares of Archer Aviation during the 2nd quarter valued at approximately $51,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.