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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 77,081 call options on the company. This is an increase of approximately 71% compared to the typical volume of 45,024 call options.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday. Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.83.

Insider Activity

In other Archer Aviation news, insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the completion of the sale, the insider directly owned 141,084 shares in the company, valued at $839,449.80. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the transaction, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at $1,124,847.50. This represents a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock worth $1,497,672 in the last 90 days. Insiders own 5.55% 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. Geneos Wealth Management Inc. increased its stake in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares during the period. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares in the last quarter. Strs Ohio acquired a new stake in Archer Aviation during the first quarter valued at approximately $27,000. Finally, Modus Advisors LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

More Archer Aviation News

Here are the key news stories impacting Archer Aviation this week:

• Positive Sentiment: Archer and Anduril introduced “Thunder,” an autonomous VTOL platform designed for both defense and commercial use, giving Archer a new growth avenue beyond urban air mobility. Anduril and Archer Unveil Jointly-Developed Autonomous VTOL Platform For Commercial and Defense Applications
• Positive Sentiment: The market is reacting favorably to Archer’s push into defense, with the new platform seen as a potential way to speed commercialization and diversify revenue sources. Archer, Anduril unveil autonomous aircraft platform for defense, commercial markets
• Positive Sentiment: Investor sentiment was also supported by management reiterating Archer’s goal to achieve certification by 2028, which suggests continued progress toward commercialization. Archer CEO reaffirms ‘ambitious’ 2028 flight goal as company unveils military craft with Anduril

Archer Aviation Price Performance

Shares of ACHR stock opened at $5.33 on Tuesday. The stock has a 50 day moving average of $5.55 and a two-hundred day moving average of $6.34. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation has a 12 month low of $4.30 and a 12 month high of $14.62. The company has a market capitalization of $4.04 billion, a P/E ratio of -4.84 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, equities analysts expect that Archer Aviation will post -1.47 EPS for the current year.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.