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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading on Friday. Traders bought 101,030 call options on the stock. This is an increase of approximately 39% compared to the typical daily volume of 72,523 call options.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ACHR. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Cantor Fitzgerald boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Up 0.7 %

ACHR stock opened at $9.96 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $12.48. The firm has a market cap of $4.23 billion, a PE ratio of -7.54 and a beta of 3.15. The firm has a 50 day simple moving average of $8.70 and a 200 day simple moving average of $5.40. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its 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 business earned ($0.19) EPS. Equities research analysts forecast that Archer Aviation will post -1.31 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the period. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation during the 3rd quarter valued at $26,000. Versant Capital Management Inc raised its holdings in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after acquiring an additional 3,430 shares during the period. Code Waechter LLC bought a new position in Archer Aviation in the 3rd quarter worth $30,000. Finally, Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.