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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the target of unusually large options trading activity on Monday. Investors purchased 154,843 call options on the company. This represents an increase of approximately 91% compared to the typical volume of 81,101 call options.

Analysts Set New Price Targets

A number of research firms have issued reports on ACHR. HC Wainwright restated a "buy" rating and issued a $18.00 target price (up from $12.00) on shares of Archer Aviation in a report on Monday. Needham & Company LLC restated a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Friday, May 16th. Finally, Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.19.

Archer Aviation Price Performance

Shares of Archer Aviation stock traded up $0.81 during trading on Wednesday, reaching $12.19. The company's stock had a trading volume of 52,930,580 shares, compared to its average volume of 24,520,755. The stock has a 50-day moving average price of $9.07 and a two-hundred day moving average price of $8.89. The stock has a market capitalization of $6.69 billion, a P/E ratio of -9.23 and a beta of 3.13. Archer Aviation has a one year low of $2.82 and a one year high of $13.92. 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 (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.04. As a group, sell-side analysts anticipate that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the sale, the insider now owns 262,673 shares of the company's stock, valued at $1,849,217.92. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Eric Lentell sold 50,004 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the transaction, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. The trade was a 52.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 451,859 shares of company stock worth $4,627,418 in the last 90 days. Insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently bought and sold shares of ACHR. Allworth Financial LP lifted its stake in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after purchasing an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Archer Aviation during the fourth quarter worth about $27,000. Strs Ohio purchased a new position in shares of Archer Aviation in the 1st quarter worth about $27,000. Tidemark LLC increased its position in Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after buying an additional 2,000 shares during the last quarter. Finally, Conquis Financial LLC bought a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $29,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.