Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the target of some unusual options trading activity on Tuesday. Investors bought 113,304 call options on the company. This represents an increase of approximately 740% compared to the typical volume of 13,489 call options.
Analyst Ratings Changes
Several brokerages have weighed in on ACHR. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an "overweight" rating in a report on Wednesday, July 24th. Benchmark reiterated a "buy" rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright started coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $12.50 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Archer Aviation has an average rating of "Moderate Buy" and a consensus target price of $9.00.
Get Our Latest Analysis on ACHR
Archer Aviation Trading Up 7.8 %
Shares of ACHR traded up $0.24 during trading hours on Tuesday, hitting $3.30. The company had a trading volume of 24,755,048 shares, compared to its average volume of 7,449,391. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $7.01. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The stock's 50 day moving average price is $3.28 and its 200 day moving average price is $3.67. The firm has a market cap of $1.07 billion, a P/E ratio of -2.00 and a beta of 2.31.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts' consensus estimates of ($0.38) by $0.07. On average, research analysts predict that Archer Aviation will post -1.2 EPS for the current year.
Insider Buying and Selling at Archer Aviation
In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company's stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.17% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Narwhal Capital Management bought a new position in shares of Archer Aviation during the third quarter valued at $40,000. Cyndeo Wealth Partners LLC purchased a new stake in Archer Aviation during the 3rd quarter valued at about $36,000. Stratos Wealth Advisors LLC increased its stake in Archer Aviation by 157.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company's stock valued at $176,000 after purchasing an additional 35,554 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Archer Aviation by 88.9% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 55,732 shares of the company's stock worth $169,000 after buying an additional 26,222 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company's stock worth $87,000 after buying an additional 12,278 shares in the last quarter. Institutional investors own 59.34% of the company's stock.
About Archer Aviation
(
Get Free Report)
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.
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