Archer Aviation Sees Unusually Large Options Volume (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHRGet Free Report) was the recipient of unusually large options trading on Friday. Investors bought 57,689 call options on the stock. This is an increase of approximately 1,112% compared to the average volume of 4,760 call options.

Archer Aviation Trading Up 17.6 %

NYSE ACHR opened at $3.67 on Friday. Archer Aviation has a twelve month low of $3.00 and a twelve month high of $7.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -2.25 and a beta of 2.35. The firm’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $4.67.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period in the previous year, the firm posted ($0.46) EPS. Equities analysts anticipate that Archer Aviation will post -1.33 EPS for the current year.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, June 17th. JPMorgan Chase & Co. dropped their price target on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a report on Tuesday, May 21st. Finally, Barclays dropped their price target on Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Check Out Our Latest Report on Archer Aviation

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Cetera Advisors LLC purchased a new position in shares of Archer Aviation during the 1st quarter valued at $80,000. Tidal Investments LLC purchased a new position in shares of Archer Aviation during the 1st quarter valued at $49,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Archer Aviation by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after acquiring an additional 5,611 shares in the last quarter. Alpine Global Management LLC purchased a new position in shares of Archer Aviation during the 1st quarter valued at $5,782,000. Finally, Axxcess Wealth Management LLC grew its holdings in shares of Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after acquiring an additional 9,713 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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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