Stock Traders Buy High Volume of Call Options on Archer Aviation (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Thursday. Traders bought 60,653 call options on the company. This is an increase of approximately 36% compared to the typical volume of 44,487 call options.

Insider Transactions at Archer Aviation

In related news, Director Michael Spellacy sold 63,000 shares of Archer Aviation stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $7.10, for a total transaction of $447,300.00. Following the sale, the director now directly owns 191,513 shares in the company, valued at $1,359,742.30. This trade represents a 24.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the sale, the chief technology officer now owns 1,170,360 shares in the company, valued at approximately $8,883,032.40. This represents a 27.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,571,386 shares valued at $9,236,577. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. HBK Investments L P bought a new stake in Archer Aviation during the 3rd quarter valued at $6,818,000. Benjamin Edwards Inc. increased its stake in Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock valued at $322,000 after purchasing an additional 105,425 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in Archer Aviation during the 3rd quarter valued at $578,000. Charles Schwab Investment Management Inc. increased its stake in Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Finally, Main Management ETF Advisors LLC bought a new stake in Archer Aviation during the 3rd quarter valued at $583,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

NYSE:ACHR opened at $8.40 on Friday. The company has a fifty day moving average of $4.89 and a 200-day moving average of $4.09. The firm has a market capitalization of $3.57 billion, a P/E ratio of -6.36 and a beta of 3.19. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $9.84.

Archer Aviation (NYSE:ACHR) last released 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 quarter in the prior year, the company posted ($0.19) EPS. As a group, sell-side analysts anticipate that Archer Aviation will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ACHR. Deutsche Bank Aktiengesellschaft lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright started coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

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.