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

Key Points

• Archer Aviation experienced a significant increase in call options trading, with 130,665 calls acquired, marking a 22% rise in volume compared to typical activity.
• Insiders, including CFO Priya Gupta and CTO Thomas Paul Muniz, have sold a combined total of 96,357 shares, representing decreases in their ownership by 6.50% and 6.09%, respectively.
• The company's stock rose 5.2% to $9.74, while analysts maintain a "Moderate Buy" rating with an average price target of $13.43.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw some unusual options trading on Friday. Stock investors acquired 130,665 call options on the company. This represents an increase of approximately 22% compared to the typical volume of 107,302 call options.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,964 shares of company stock worth $2,865,206 in the last three months. Corporate insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACHR. Allworth Financial LP grew its position in shares of Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock worth $25,000 after acquiring an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $27,000. Strs Ohio acquired a new position in shares of Archer Aviation in the 1st quarter worth approximately $27,000. Tidemark LLC grew its position in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Finally, AlphaQuest LLC grew its position in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Stock Up 5.2%

ACHR stock traded up $0.49 during midday trading on Friday, hitting $9.74. 39,695,307 shares of the company's stock were exchanged, compared to its average volume of 32,106,926. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation has a 12-month low of $2.82 and a 12-month high of $13.92. The firm has a 50 day moving average price of $9.87 and a 200-day moving average price of $9.34. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of -7.20 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ACHR shares. JPMorgan Chase & Co. raised their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.43.

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.

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