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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Friday. Stock investors acquired 90,573 call options on the stock. This represents an increase of 63% compared to the average daily volume of 55,683 call options.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACHR. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $10.63.

Insider Buying and Selling

In other news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 438,428 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the sale, the chief technology officer now directly owns 1,170,360 shares in the company, valued at approximately $8,883,032.40. The trade was a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,812,899 shares worth $11,601,707. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Tidal Investments LLC lifted its position in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after purchasing an additional 3,339 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Archer Aviation during the 3rd quarter worth approximately $80,000. Barclays PLC lifted its holdings in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after buying an additional 312,440 shares during the period. Geode Capital Management LLC boosted its stake in shares of Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. Finally, Main Management ETF Advisors LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at approximately $583,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

NYSE ACHR opened at $11.18 on Friday. The firm has a market cap of $4.75 billion, a P/E ratio of -8.47 and a beta of 3.19. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $11.69. The business’s 50-day moving average price is $6.23 and its 200 day moving average price is $4.54. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, equities research analysts expect that Archer Aviation will post -1.28 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.