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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Stock investors bought 128,414 call options on the stock. This is an increase of 47% compared to the average daily volume of 87,124 call options.

Insider Activity

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 transaction of $234,678.40. Following the sale, the insider now owns 262,673 shares of the company's stock, valued at approximately $1,849,217.92. The trade was a 11.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Mesler sold 34,498 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares of the company's stock, valued at approximately $4,641,873.28. The trade was a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 451,859 shares of company stock valued at $4,627,418. Insiders own 7.65% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in Archer Aviation during the 4th quarter valued at $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation in the fourth quarter worth $29,000. Oarsman Capital Inc. increased its position in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after acquiring an additional 2,547 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after acquiring an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC boosted its position in Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after purchasing an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACHR. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $18.00 price target (up from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Finally, Canaccord Genuity Group cut their price objective on shares of Archer Aviation from $13.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, June 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.13.

Archer Aviation Stock Up 7.2%

ACHR stock traded up $0.72 during trading on Tuesday, hitting $10.72. 44,784,245 shares of the stock traded hands, compared to its average volume of 31,541,457. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.80 and a quick ratio of 15.80. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -8.18 and a beta of 3.13. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $13.92. The firm's 50 day moving average is $9.73 and its two-hundred day moving average is $9.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, sell-side analysts anticipate that Archer Aviation will post -1.32 EPS 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.

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