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

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading activity on Friday. Investors purchased 332,236 call options on the company. This represents an increase of approximately 215% compared to the average daily volume of 105,384 call options.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $11.52 on Friday. Archer Aviation has a one year low of $2.85 and a one year high of $13.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The company has a 50 day moving average price of $9.49 and a 200 day moving average price of $9.52. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of -8.53 and a beta of 3.06.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Sell-side analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ACHR shares. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. UBS Group reissued a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $13.43.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $481,040.88. Following the completion of the transaction, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Priya Gupta sold 10,224 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the transaction, the chief financial officer directly owned 147,153 shares of the company’s stock, valued at approximately $1,446,513.99. This represents a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its stake in Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after buying an additional 1,106 shares during the period. Moody National Bank Trust Division grew its stake in Archer Aviation by 0.7% during the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after buying an additional 1,211 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Archer Aviation by 23.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company’s stock worth $72,000 after buying an additional 1,269 shares during the period. Purus Wealth Management LLC grew its stake in Archer Aviation by 9.9% during the second quarter. Purus Wealth Management LLC now owns 14,865 shares of the company’s stock worth $161,000 after buying an additional 1,340 shares during the period. Finally, Kestra Private Wealth Services LLC grew its stake in Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock worth $121,000 after buying an additional 1,358 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About Archer Aviation

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.