Archer Aviation Target of Unusually High Options Trading (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) saw some unusual options trading on Friday. Traders acquired 101,030 call options on the company. This is an increase of approximately 39% compared to the typical daily volume of 72,523 call options.

Archer Aviation Stock Performance

Shares of ACHR opened at $9.96 on Friday. The stock has a 50-day moving average of $8.70 and a two-hundred day moving average of $5.40. Archer Aviation has a one year low of $2.82 and a one year 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 stock has a market cap of $4.23 billion, a P/E ratio of -7.54 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data 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 quarter last year, the business earned ($0.19) earnings per share. As a group, research analysts predict that Archer Aviation will post -1.31 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACHR. Canaccord Genuity Group raised their price target on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Insider Buying and Selling at Archer Aviation

In other news, major shareholder N.V. Stellantis purchased 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of the business. Miller Wealth Advisors LLC purchased a new stake in Archer Aviation during the 3rd quarter worth approximately $26,000. Code Waechter LLC purchased a new position in Archer Aviation in the third quarter worth approximately $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the third quarter worth approximately $31,000. GPS Wealth Strategies Group LLC grew its position in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after acquiring an additional 2,975 shares during the period. Finally, Cyndeo Wealth Partners LLC acquired a new position in Archer Aviation during the third quarter worth $36,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.