Archer Aviation Inc. (NYSE:ACHR – Get Free Report) saw unusually large options trading activity on Thursday. Stock traders purchased 47,363 call options on the company. This represents an increase of approximately 302% compared to the typical volume of 11,781 call options.
Archer Aviation Trading Up 1.2 %
Shares of ACHR stock opened at $2.98 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $7.01. The company has a market cap of $962.59 million, a PE ratio of -1.83 and a beta of 2.31. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $3.51 and its two-hundred day moving average is $3.82.
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. Equities analysts predict that Archer Aviation will post -1.33 EPS for the current year.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on Archer Aviation
Insiders Place Their Bets
In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 27.17% of the company’s stock.
Institutional Investors Weigh In On Archer Aviation
Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Quadrature Capital Ltd bought a new stake in Archer Aviation during the 4th quarter valued at approximately $578,000. HighPoint Advisor Group LLC bought a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $75,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Archer Aviation by 196.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock worth $151,000 after acquiring an additional 21,662 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Archer Aviation by 266.5% during the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after acquiring an additional 30,075 shares during the period. Finally, Swiss National Bank raised its stake in Archer Aviation by 2.3% during the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after purchasing an additional 8,500 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Five stocks we like better than Archer Aviation
- How Can Investors Benefit From After-Hours Trading
- The Outlook for Interest Rate Cuts Got Blown Out of the Water
- How is Compound Interest Calculated?
- 3 High-Risk, High-Reward Micro-Cap Stocks You Shouldn’t Ignore
- Top Stocks Investing in 5G Technology
- 3 Bargain Stocks Positioned for Gains After Missing 2024’s Rally
Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.