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

Key Points

• Traders have shown increased interest in Archer Aviation, purchasing 172,014 call options, a rise of about 81% from the typical volume.
• Analyst ratings for Archer Aviation remain positive, with several firms maintaining a "buy" rating and a consensus price target of $13.43.
• Insider trading activity includes CFO Mark Mesler and Priya Gupta selling shares, decreasing their ownership, while institutional investors hold 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw some unusual options trading activity on Monday. Traders purchased 172,014 call options on the company. Thisrepresentsanincreaseofapproximately81% compared to the typical daily volume of 95,167 call options.

Analyst Upgrades and Downgrades

ACHR has been the topic of several research reports. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. HC Wainwright restated a "buy" rating and issued a $18.00 price objective (up previously from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Insiders Place Their Bets

In other Archer Aviation news, CFO Mark Mesler sold 50,775 shares of Archer Aviation stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $659,567.25. Following the completion of the transaction, the chief financial officer owned 711,525 shares of the company's stock, valued at $9,242,709.75. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Priya Gupta sold 13,210 shares of the business's stock in a transaction 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 transaction, the chief financial officer directly owned 134,104 shares of the company's stock, valued at approximately $1,742,010.96. This trade represents a 8.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,960 shares of company stock valued at $4,018,019. 7.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Purus Wealth Management LLC increased its stake in shares of Archer Aviation by 9.9% in the second quarter. Purus Wealth Management LLC now owns 14,865 shares of the company's stock valued at $161,000 after buying an additional 1,340 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of Archer Aviation by 77.8% during the 2nd quarter. Inspire Advisors LLC now owns 18,131 shares of the company's stock valued at $197,000 after purchasing an additional 7,931 shares in the last quarter. Bulltick Wealth Management LLC lifted its holdings in shares of Archer Aviation by 22.4% during the 2nd quarter. Bulltick Wealth Management LLC now owns 180,000 shares of the company's stock valued at $1,953,000 after purchasing an additional 33,000 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Archer Aviation during the 2nd quarter valued at about $531,000. Finally, Intech Investment Management LLC lifted its holdings in shares of Archer Aviation by 92.5% during the 2nd quarter. Intech Investment Management LLC now owns 377,511 shares of the company's stock valued at $4,096,000 after purchasing an additional 181,411 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

ACHR stock traded down $0.17 during midday trading on Monday, hitting $9.55. The stock had a trading volume of 41,938,573 shares, compared to its average volume of 33,074,863. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of -7.29 and a beta of 3.08. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $13.92. The stock has a 50-day simple moving average of $10.58 and a 200 day simple moving average of $9.36. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. As a group, equities research analysts anticipate that Archer Aviation will post -1.32 earnings per share for the current year.

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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