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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading activity on Thursday. Stock traders acquired 56,874 call options on the company. This is an increase of 273% compared to the average daily volume of 15,252 call options.

Archer Aviation Stock Up 8.9 %

NYSE ACHR opened at $3.50 on Friday. The business has a fifty day moving average price of $3.16 and a 200 day moving average price of $3.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. Archer Aviation has a one year low of $2.82 and a one year high of $7.01.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. On average, equities research analysts forecast that Archer Aviation will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at about $26,000. Hollencrest Capital Management grew its holdings in shares of Archer Aviation by 50.0% during the 2nd 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. CWM LLC increased its position in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the last quarter. Code Waechter LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at about $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation in the third quarter valued at about $31,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent research reports. HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $9.00.

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.