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

Archer Aviation Inc. (NYSE:ACHR) was the target of some unusual options trading on Monday. Traders acquired 154,843 call options on the stock. This is an increase of 91% compared to the average volume of 81,101 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. HC Wainwright increased their target price on Archer Aviation from $12.00 to $18.00 and gave the company a “buy” rating in a report on Monday. Canaccord Genuity Group increased their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Archer Aviation in a report on Friday, May 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.19.

Insider Buying and Selling at Archer Aviation

In related news, CFO Mark Mesler sold 34,498 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. The trade was a 4.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 80,919 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $1,051,137.81. Following the completion of the transaction, the chief technology officer now owns 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. ARK Investment Management LLC boosted its holdings in shares of Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Archer Aviation by 19.7% during the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock valued at $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Geode Capital Management LLC increased its position in Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock valued at $56,908,000 after buying an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. increased its position in Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock valued at $48,748,000 after buying an additional 3,064,280 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Archer Aviation during the 4th quarter valued at about $42,709,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Trading Up 0.9%

Shares of NYSE ACHR opened at $11.37 on Wednesday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $9.07 and a two-hundred day simple moving average of $8.89. The firm has a market cap of $6.24 billion, a PE ratio of -8.61 and a beta of 3.13. Archer Aviation has a twelve month low of $2.82 and a twelve month high of $13.92.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. Analysts expect that Archer Aviation will post -1.32 earnings per share for the current fiscal 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.