Archer Aviation Target of Unusually High Options Trading (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) saw unusually large options trading on Tuesday. Stock traders acquired 113,304 call options on the company. This is an increase of 740% compared to the average daily volume of 13,489 call options.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares during the last quarter. CWM LLC boosted its holdings in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Archer Aviation by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after purchasing an additional 5,611 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Archer Aviation by 13.7% in the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock valued at $210,000 after purchasing an additional 7,184 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACHR shares. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Finally, HC Wainwright started coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $3.12 on Thursday. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $7.01. The business has a 50-day moving average of $3.27 and a 200-day moving average of $3.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -1.91 and a beta of 2.31.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, equities analysts anticipate that Archer Aviation will post -1.2 EPS for the current fiscal year.

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.