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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Monday. Stock traders purchased 154,843 call options on the stock. This represents an increase of approximately 91% compared to the typical volume of 81,101 call options.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 13,210 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the transaction, the chief financial officer now directly owns 134,104 shares of the company’s stock, valued at approximately $1,742,010.96. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the transaction, the general counsel now directly owns 45,416 shares in the company, valued at approximately $319,728.64. This trade represents a 52.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 451,859 shares of company stock worth $4,627,418. 7.65% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Allworth Financial LP raised its stake in shares of Archer Aviation by 87.0% in the first 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 Archer Aviation in the 4th quarter worth approximately $27,000. Strs Ohio purchased a new position in Archer Aviation during the 1st quarter worth approximately $27,000. Tidemark LLC boosted its holdings in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Conquis Financial LLC acquired a new position in Archer Aviation during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Up 13.2%

Shares of ACHR stock traded up $1.35 during trading hours on Monday, reaching $11.54. 59,147,809 shares of the company’s stock were exchanged, compared to its average volume of 24,215,613. The stock’s fifty day moving average price is $8.90 and its two-hundred day moving average price is $8.83. The stock has a market cap of $6.34 billion, a PE ratio of -8.70 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. 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 quarterly earnings data on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. Research analysts predict that Archer Aviation will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Raymond James upped their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Friday, May 16th. HC Wainwright boosted their target price on shares of Archer Aviation from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Monday. Finally, Canaccord Genuity Group increased their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $13.19.

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.