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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the target of unusually large options trading on Friday. Traders purchased 130,278 call options on the company. This is an increase of 62% compared to the typical volume of 80,593 call options.

Analyst Ratings Changes

Several brokerages have issued reports on ACHR. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 price target on shares of Archer Aviation in a report on Monday, June 23rd. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and set a $18.00 target price (up previously from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. Finally, Canaccord Genuity Group dropped their target price on Archer Aviation from $13.50 to $13.00 and set a "buy" rating for the company in a report on Monday, June 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.13.

Archer Aviation Trading Down 2.3%

ACHR traded down $0.25 during trading on Friday, hitting $10.53. The company's stock had a trading volume of 36,697,537 shares, compared to its average volume of 27,106,067. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a quick ratio of 15.80, a current ratio of 15.80 and a debt-to-equity ratio of 0.07. The stock's fifty day moving average price is $10.36 and its 200-day moving average price is $9.23. The firm has a market capitalization of $5.78 billion, a P/E ratio of -8.04 and a beta of 3.10.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. Analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CFO Mark Mesler sold 50,775 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 711,525 shares of the company's stock, valued at approximately $9,242,709.75. This represents a 6.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 80,919 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 value of $1,051,137.81. Following the completion of the sale, the chief technology officer directly owned 1,253,294 shares of the company's stock, valued at approximately $16,280,289.06. The trade was a 6.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 376,960 shares of company stock worth $4,441,519 in the last quarter. Company insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Archer Aviation by 24.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock valued at $22,206,000 after purchasing an additional 446,864 shares during the period. California State Teachers Retirement System lifted its position in shares of Archer Aviation by 26.2% during the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after buying an additional 50,104 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Archer Aviation by 64.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock valued at $581,000 after buying an additional 31,933 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Archer Aviation during the 1st quarter valued at $369,000. Finally, Vanguard Group Inc. lifted its position in shares of Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after buying an additional 2,908,859 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

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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