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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw unusually large options trading activity on Tuesday. Traders bought 128,414 call options on the company. This is an increase of approximately 47% compared to the average volume of 87,124 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACHR shares. Needham & Company LLC reissued a "buy" rating and set a $13.00 price objective 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 note on Monday, June 9th. Canaccord Genuity Group decreased their target price on shares of Archer Aviation from $13.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, June 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Monday, June 23rd. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $13.13.

Archer Aviation Stock Performance

Shares of ACHR opened at $10.47 on Friday. Archer Aviation has a one year low of $2.82 and a one year high of $13.92. The firm has a market capitalization of $5.75 billion, a PE ratio of -7.99 and a beta of 3.13. The company has a 50-day simple moving average of $9.99 and a two-hundred day simple moving average of $9.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.80 and a quick ratio of 15.80.

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

Insider Buying and Selling

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 completion of the transaction, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. This trade represents a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 13,210 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the completion of the transaction, the chief financial officer now owns 134,104 shares of the company's stock, valued at $1,742,010.96. This represents a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC raised its holdings in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Archer Aviation in the fourth quarter worth about $42,709,000. Vanguard Group Inc. grew its position in Archer Aviation by 19.7% during the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after buying an additional 3,249,106 shares during the period. Nuveen LLC purchased a new stake in Archer Aviation during the first quarter valued at approximately $22,423,000. Finally, Alyeska Investment Group L.P. increased its holdings in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after buying an additional 3,064,280 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

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.