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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors bought 90,573 call options on the stock. This is an increase of 63% compared to the average daily volume of 55,683 call options.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded down $0.15 during trading on Friday, reaching $11.18. 36,306,379 shares of the company traded hands, compared to its average volume of 13,309,166. The firm has a 50 day simple moving average of $6.07 and a 200-day simple moving average of $4.49. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $11.69. The stock has a market capitalization of $4.75 billion, a PE ratio of -8.47 and a beta of 3.19. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the company earned ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the business'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 completion of the transaction, the chief executive officer now owns 4,197,136 shares of the company's stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares in the company, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. HBK Investments L P purchased a new position in shares of Archer Aviation during the 3rd quarter valued at about $6,818,000. Benjamin Edwards Inc. raised its stake in Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock worth $322,000 after acquiring an additional 105,425 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of Archer Aviation in the third quarter worth approximately $578,000. Finally, Stifel Financial Corp increased its stake in shares of Archer Aviation by 574.5% in the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after purchasing an additional 391,092 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ACHR shares. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald increased their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Finally, Needham & Company LLC began coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $11.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $10.63.

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.