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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the target of some unusual options trading on Friday. Traders purchased 130,278 call options on the stock. This represents an increase of approximately 62% compared to the average volume of 80,593 call options.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. Canaccord Genuity Group cut their price objective 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. Cantor Fitzgerald restated an "overweight" rating and issued a $13.00 price target on shares of Archer Aviation in a report on Monday, June 23rd. HC Wainwright reiterated a "buy" rating and set a $18.00 price objective (up from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.13.

Insiders Place Their Bets

In other news, CFO Mark Mesler sold 50,775 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $659,567.25. Following the transaction, the chief financial officer directly owned 711,525 shares in the company, valued at $9,242,709.75. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Priya Gupta sold 13,210 shares of the 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 sale, the chief financial officer owned 134,104 shares in the company, 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. Insiders have sold 376,960 shares of company stock valued at $4,441,519 over the last 90 days. Corporate insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the fourth quarter valued at $27,000. GAMMA Investing LLC lifted its holdings in Archer Aviation by 219.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after purchasing an additional 2,024 shares during the last quarter. Conquis Financial LLC acquired a new stake in Archer Aviation during the 4th quarter worth approximately $29,000. Oarsman Capital Inc. lifted its holdings in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

Archer Aviation Stock Up 2.6%

NYSE ACHR traded up $0.27 during trading hours on Monday, hitting $10.78. 29,735,755 shares of the company traded hands, compared to its average volume of 27,210,446. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.80 and a current ratio of 15.80. The business's 50-day moving average is $10.39 and its 200-day moving average is $9.21. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of -8.23 and a beta of 3.10. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. Sell-side 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.