Archer Aviation Sees Unusually High Options Volume (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Friday. Stock traders acquired 98,492 call options on the stock. This is an increase of approximately 53% compared to the average daily volume of 64,502 call options.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $8.95 on Friday. The company has a market cap of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $12.48. The stock has a 50 day simple moving average of $7.54 and a 200-day simple moving average of $4.99.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities research analysts forecast that Archer Aviation will post -1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ACHR shares. Needham & Company LLC began coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price on the stock. Cantor Fitzgerald boosted 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. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $6.00 to $9.00 in a report on Friday. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $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 90 days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the 3rd quarter valued at $26,000. Code Waechter LLC acquired a new position in Archer Aviation during the third quarter worth $30,000. Azzad Asset Management Inc. ADV acquired a new position in Archer Aviation during the third quarter worth $31,000. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new stake in Archer Aviation during the third quarter valued at about $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.