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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was the recipient of some unusual options trading on Monday. Traders purchased 128,238 call options on the stock. This represents an increase of approximately 59% compared to the average volume of 80,435 call options.

Insider Activity at Archer Aviation

In related news, Director Deborah Diaz purchased 5,150 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Archer Aviation by 42.6% in the second quarter. The Manufacturers Life Insurance Company now owns 120,870 shares of the company's stock worth $425,000 after acquiring an additional 36,130 shares in the last quarter. Creative Planning raised its holdings in shares of Archer Aviation by 74.1% during the 3rd quarter. Creative Planning now owns 28,851 shares of the company's stock valued at $87,000 after purchasing an additional 12,278 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in shares of 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. Stratos Wealth Advisors LLC lifted its stake in shares of Archer Aviation by 157.4% in the third quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company's stock worth $176,000 after buying an additional 35,554 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in Archer Aviation during the 3rd quarter valued at approximately $36,000. 59.34% of the stock is owned by institutional investors.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $10.17 on Tuesday. The firm's 50-day simple moving average is $9.25 and its 200 day simple moving average is $5.76. The stock has a market cap of $4.32 billion, a P/E ratio of -7.70 and a beta of 3.13. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Analyst Ratings Changes

Several equities analysts recently weighed in on ACHR shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.38.

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.

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