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

Archer Aviation Inc. (NYSE:ACHR) saw some unusual options trading on Monday. Investors purchased 172,014 call options on the stock. Thisisanincreaseof81% compared to the average volume of 95,167 call options.

Insider Activity at Archer Aviation

In other news, General Counsel Eric Lentell sold 95,896 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.60, for a total value of $1,016,497.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mark Mesler sold 50,775 shares of the company’s stock in a transaction dated 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 in the company, valued at $9,242,709.75. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 326,960 shares of company stock worth $4,018,019 over the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. ARK Investment Management LLC grew its holdings in shares of Archer Aviation by 8.3% in the 2nd quarter. ARK Investment Management LLC now owns 29,585,504 shares of the company’s stock worth $321,003,000 after acquiring an additional 2,270,471 shares during the period. Vanguard Group Inc. grew its holdings in shares of Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock worth $140,275,000 after acquiring an additional 3,249,106 shares during the period. Geode Capital Management LLC grew its holdings in shares of Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock worth $130,125,000 after acquiring an additional 3,671,753 shares during the period. Alyeska Investment Group L.P. grew its holdings in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after acquiring an additional 3,064,280 shares during the period. Finally, Alpine Global Management LLC grew its holdings in shares of Archer Aviation by 16.7% in the 1st quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock worth $30,583,000 after acquiring an additional 615,481 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 1.7%

Shares of NYSE ACHR opened at $9.55 on Tuesday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of -7.29 and a beta of 3.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.80 and a quick ratio of 15.80. The business has a 50-day moving average of $10.58 and a two-hundred day moving average of $9.36. Archer Aviation has a 1 year low of $2.82 and a 1 year high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.16). On average, analysts forecast that Archer Aviation will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on ACHR shares. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $12.00) on shares of Archer Aviation in a report on Monday, June 9th. JPMorgan Chase & Co. increased their price target on Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, August 1st. UBS Group reaffirmed a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $13.43.

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.