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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Friday. Investors bought 90,573 call options on the stock. This represents an increase of approximately 63% compared to the average daily volume of 55,683 call options.

Insider Activity at Archer Aviation

In other news, Director Deborah Diaz bought 5,150 shares of the stock in a transaction on Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam D. Goldstein purchased 19,762 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the transaction, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC increased its position in shares of Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after acquiring an additional 268,896 shares in the last quarter. HBK Investments L P acquired a new position in shares of Archer Aviation during the 3rd quarter valued at $6,818,000. Charles Schwab Investment Management Inc. boosted its position 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 worth $5,547,000 after purchasing an additional 94,430 shares during the period. Bank of New York Mellon Corp increased its holdings in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Finally, Sora Investors LLC purchased a new position in Archer Aviation in the third quarter valued at about $3,429,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Canaccord Genuity Group increased their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC assumed coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $10.63.

Archer Aviation Trading Down 1.3 %

NYSE ACHR opened at $11.18 on Friday. The company has a market cap of $4.75 billion, a P/E ratio of -8.47 and a beta of 3.19. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $11.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a 50-day moving average of $6.23 and a 200-day moving average of $4.54.

Archer Aviation (NYSE:ACHR) last posted its quarterly 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 prior year, the firm earned ($0.19) EPS. As a group, equities analysts predict that Archer Aviation will post -1.28 earnings per share for the current 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.