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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Friday. Stock traders bought 98,492 call options on the stock. This is an increase of approximately 53% compared to the typical daily volume of 64,502 call options.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC began coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation in the third quarter worth about $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation during the third quarter worth approximately $31,000. Hollencrest Capital Management grew its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation in the third quarter valued at approximately $36,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Performance

Shares of ACHR opened at $8.95 on Friday. The company has a market capitalization of $3.81 billion, a PE ratio of -6.78 and a beta of 3.15. 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 company’s 50 day moving average price is $7.65 and its 200 day moving average price is $5.04. Archer Aviation has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the firm posted ($0.19) EPS. Research analysts expect that Archer Aviation will post -1.28 EPS 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.