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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw some unusual options trading activity on Thursday. Stock investors purchased 47,363 call options on the company. This is an increase of 302% compared to the average volume of 11,781 call options.

Archer Aviation Price Performance

Archer Aviation stock traded down $0.26 during mid-day trading on Thursday, reaching $2.94. 13,406,854 shares of the company were exchanged, compared to its average volume of 7,244,191. The firm has a market cap of $951.26 million, a PE ratio of -1.80 and a beta of 2.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The company has a fifty day simple moving average of $3.54 and a 200-day simple moving average of $3.83. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $7.01.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.07. As a group, equities research analysts expect that Archer Aviation will post -1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

ACHR has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a "buy" rating and a $12.50 price target for the company. Benchmark reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $9.00.

Insider Activity

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of Archer Aviation stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the purchase, the insider now owns 59,734,962 shares of the company's stock, valued at approximately $200,112,122.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management boosted its stake in shares of Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock valued at $32,000 after purchasing an additional 3,000 shares in the last quarter. CWM LLC grew its stake in shares of Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company's stock worth $33,000 after buying an additional 3,559 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Archer Aviation during the first quarter worth $49,000. Csenge Advisory Group acquired a new position in shares of Archer Aviation during the second quarter worth $39,000. Finally, HighPoint Advisor Group LLC bought a new position in shares of Archer Aviation in the 4th quarter valued at $75,000. 59.34% of the stock is owned by institutional investors.

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.