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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw some unusual options trading on Friday. Stock traders acquired 101,030 call options on the company. This is an increase of approximately 39% compared to the average volume of 72,523 call options.

Insider Activity

In related news, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company's stock, valued at $1,263,072. The trade was a 43.18 % 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, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Corporate insiders own 9.75% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the third quarter worth approximately $26,000. Code Waechter LLC acquired a new stake in Archer Aviation during the third quarter worth about $30,000. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation in the third quarter valued at approximately $31,000. GPS Wealth Strategies Group LLC increased its stake in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock valued at $33,000 after purchasing an additional 2,975 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in Archer Aviation during the third quarter worth about $36,000. Institutional investors and hedge funds own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ACHR. Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Needham & Company LLC reissued a "buy" rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, HC Wainwright restated a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Archer Aviation has an average rating of "Moderate Buy" and a consensus target price of $11.38.

Archer Aviation Price Performance

ACHR traded up $0.07 during midday trading on Friday, hitting $9.96. The company had a trading volume of 33,988,404 shares, compared to its average volume of 30,382,522. The firm's 50-day simple moving average is $8.70 and its 200-day simple moving average is $5.40. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market capitalization of $4.23 billion, a PE ratio of -7.54 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) earnings per share. Equities research analysts predict that Archer Aviation will post -1.31 EPS for the current fiscal 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.