Traders Buy High Volume of Archer Aviation Call Options (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the recipient of some unusual options trading on Tuesday. Stock traders acquired 120,721 call options on the stock. This is an increase of approximately 55% compared to the typical daily volume of 77,660 call options.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. The trade was a 17.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 34,498 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares of the company's stock, valued at approximately $4,641,873.28. This represents a 4.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 474,780 shares of company stock valued at $3,581,581 in the last 90 days. Corporate insiders own 9.75% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of ACHR. ARK Investment Management LLC boosted its position 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 valued at $291,643,000 after buying an additional 6,371,647 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $42,709,000. Vanguard Group Inc. increased its stake in Archer Aviation by 19.7% in the 1st 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 last quarter. Nuveen LLC acquired a new position in shares of Archer Aviation during the 1st quarter worth about $22,423,000. Finally, Alyeska Investment Group L.P. boosted its position 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 worth $48,748,000 after purchasing an additional 3,064,280 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Up 24.0%

ACHR stock traded up $2.18 during mid-day trading on Tuesday, hitting $11.26. 56,742,107 shares of the company were exchanged, compared to its average volume of 21,812,068. The firm has a fifty day simple moving average of $7.76 and a 200 day simple moving average of $7.93. 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 has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a market capitalization of $6.11 billion, a PE ratio of -8.53 and a beta of 3.13.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACHR. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Raymond James upped 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.61.

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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