Investors Purchase Large Volume of Call Options on Archer Aviation (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Friday. Investors bought 90,573 call options on the company. This represents an increase of 63% compared to the typical volume of 55,683 call options.

Archer Aviation Stock Up 4.9 %

NYSE:ACHR opened at $11.33 on Friday. The company’s 50-day simple moving average is $5.91 and its 200-day simple moving average is $4.44. 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 has a fifty-two week low of $2.82 and a fifty-two week high of $11.36. The stock has a market capitalization of $4.82 billion, a P/E ratio of -8.58 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its earnings results 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 quarter in the prior year, the business earned ($0.19) earnings per share. On average, equities analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, Director Michael Spellacy sold 191,513 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. Raymond James & Associates raised its holdings in Archer Aviation by 44.4% in the 2nd quarter. Raymond James & Associates now owns 625,164 shares of the company’s stock worth $2,201,000 after purchasing an additional 192,120 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after buying an additional 254,460 shares during the period. Principal Financial Group Inc. lifted its position in shares of Archer Aviation by 75.6% during the 2nd quarter. Principal Financial Group Inc. now owns 31,064 shares of the company’s stock valued at $109,000 after buying an additional 13,372 shares in the last quarter. Rhumbline Advisers grew its stake in Archer Aviation by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock valued at $1,098,000 after acquiring an additional 70,575 shares during the period. Finally, Arizona State Retirement System increased its holdings in Archer Aviation by 13.7% in the 2nd quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after acquiring an additional 7,184 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC started coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

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.