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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Monday. Traders bought 154,843 call options on the company. This is an increase of 91% compared to the typical daily volume of 81,101 call options.

Analyst Ratings Changes

Several research firms recently issued reports on ACHR. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. Raymond James upped their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. HC Wainwright raised their price target on Archer Aviation from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 target price on shares of Archer Aviation in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.19.

Archer Aviation Price Performance

Shares of ACHR opened at $11.31 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $8.87. Archer Aviation has a 52-week low of $2.82 and a 52-week high of $13.92. The firm has a market capitalization of $6.21 billion, a PE ratio of -8.57 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. Sell-side analysts predict that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Tosha Perkins sold 40,186 shares of Archer Aviation stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $522,016.14. Following the completion of the transaction, the insider now directly owns 256,799 shares in the company, valued at approximately $3,335,819.01. This trade represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 80,919 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $1,051,137.81. Following the completion of the sale, the chief technology officer now owns 1,253,294 shares of the company’s stock, valued at $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 451,859 shares of company stock valued at $4,627,418. Corporate insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in ACHR. EP Wealth Advisors LLC grew its holdings in Archer Aviation by 6.7% during the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after buying an additional 1,000 shares in the last quarter. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Xponance Inc. grew its position in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after acquiring an additional 1,299 shares during the last quarter. 59.34% of the stock is currently 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.