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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 113,304 call options on the company. This is an increase of 740% compared to the average volume of 13,489 call options.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new stake in Archer Aviation during the fourth quarter valued at about $75,000. Hennion & Walsh Asset Management Inc. grew its stake in Archer Aviation by 196.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock worth $151,000 after acquiring an additional 21,662 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Archer Aviation by 266.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after purchasing an additional 30,075 shares during the period. Swiss National Bank increased its stake in shares of Archer Aviation by 2.3% during the first quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after buying an additional 8,500 shares during the period. Finally, Interchange Capital Partners LLC increased its position in Archer Aviation by 48.7% during the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock valued at $120,000 after purchasing an additional 8,361 shares during the period. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

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

Archer Aviation Trading Up 4.6 %

Shares of NYSE ACHR traded up $0.14 during mid-day trading on Tuesday, hitting $3.20. The stock had a trading volume of 11,822,048 shares, compared to its average volume of 7,386,551. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The firm has a market cap of $1.04 billion, a P/E ratio of -1.95 and a beta of 2.31. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $7.01. The business has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $3.67.

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

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.