Archer Aviation Sees Unusually High Options Volume (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the recipient of unusually large options trading activity on Friday. Traders acquired 98,492 call options on the stock. This is an increase of 53% compared to the average volume of 64,502 call options.

Analysts Set New Price Targets

ACHR has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. HC Wainwright reiterated a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group raised their price objective on Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the company from $6.00 to $9.00 in a research report on Friday. Finally, Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.38.

Insider Transactions at Archer Aviation

In other news, Director Deborah Diaz acquired 5,150 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the acquisition, the director now owns 98,886 shares of the company's stock, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. HBK Investments L P acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at $6,818,000. Sora Investors LLC acquired a new stake in Archer Aviation in the third quarter valued at $3,429,000. Stifel Financial Corp raised its stake in Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock valued at $1,391,000 after buying an additional 391,092 shares in the last quarter. Barclays PLC lifted its holdings in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock worth $15,487,000 after acquiring an additional 268,896 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Stock Down 14.6 %

Shares of ACHR traded down $1.53 during mid-day trading on Friday, hitting $8.95. 37,599,729 shares of the company's stock were exchanged, compared to its average volume of 41,136,836. The stock's 50-day moving average is $7.65 and its 200-day moving average is $5.04. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business posted ($0.19) EPS. On average, sell-side analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current fiscal year.

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.