Investors Purchase High Volume of Archer Aviation Call Options (NYSE:ACHR)

Key Points

• Archer Aviation Inc. saw a significant increase in call options trading, with investors purchasing 332,236 call options on Friday, marking a 215% increase from the typical volume.
• The company's stock rose 13.2% on the same day, opening at $11.52, with analysts forecasting negative earnings per share of -1.32 for the current year.
• Insiders, including the CTO and CFO, sold shares totaling nearly $1.95 million, while approximately 59.34% of the stock is owned by institutional investors.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the target of some unusual options trading on Friday. Investors acquired 332,236 call options on the company. This represents an increase of approximately 215% compared to the typical volume of 105,384 call options.

Archer Aviation Stock Up 13.2%

Archer Aviation stock opened at $11.52 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The company has a 50-day simple moving average of $9.49 and a 200-day simple moving average of $9.51. The firm has a market capitalization of $7.43 billion, a P/E ratio of -8.53 and a beta of 3.06. Archer Aviation has a one year low of $2.85 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities analysts expect that Archer Aviation will post -1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACHR. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Insider Buying and Selling at Archer Aviation

In related news, 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 transaction of $846,687.39. Following the sale, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the transaction, the chief financial officer owned 147,153 shares in the company, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,068 shares of company stock worth $1,848,708 over the last ninety days. 7.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACHR. AlphaQuest LLC boosted its holdings in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after buying an additional 2,375 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after acquiring an additional 2,024 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock worth $36,000 after purchasing an additional 1,702 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Allworth Financial LP boosted 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 valued at $25,000 after purchasing an additional 1,664 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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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