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

Archer Aviation Inc. (NYSE:ACHR) saw some unusual options trading on Tuesday. Stock traders acquired 128,414 call options on the stock. This is an increase of approximately 47% compared to the typical daily volume of 87,124 call options.

Insider Buying and Selling at Archer Aviation

In related news, 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 value of $1,051,137.81. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the chief financial officer now directly owns 659,357 shares of the company’s stock, valued at approximately $4,641,873.28. The trade was a 4.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 451,859 shares of company stock valued at $4,627,418 in the last 90 days. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after purchasing an additional 1,664 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during the 4th quarter worth approximately $27,000. Strs Ohio acquired a new position in shares of Archer Aviation during the 1st quarter worth approximately $27,000. Tidemark LLC increased its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Conquis Financial LLC acquired a new position in shares of Archer Aviation during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Canaccord Genuity Group decreased their target price on Archer Aviation from $13.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, June 16th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price (up previously from $12.00) on shares of Archer Aviation in a research report on Monday, June 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 target price on shares of Archer Aviation in a research report on Monday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Archer Aviation Price Performance

Shares of ACHR opened at $9.94 on Thursday. The company has a current ratio of 15.80, a quick ratio of 15.80 and a debt-to-equity ratio of 0.07. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $13.92. The stock has a market cap of $5.46 billion, a P/E ratio of -7.59 and a beta of 3.13. The stock’s 50-day moving average price is $9.86 and its two-hundred day moving average price is $9.09.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, equities analysts predict 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.