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

by · The Cerbat Gem

Archer Aviation Inc. (NYSE:ACHR – Get Free Report) saw unusually large options trading activity on Thursday. Stock traders purchased 47,363 call options on the company. This represents an increase of approximately 302% compared to the typical volume of 11,781 call options.

Archer Aviation Trading Up 1.2 %

Shares of ACHR stock opened at $2.98 on Friday. Archer Aviation has a 12 month low of $2.82 and a 12 month high of $7.01. The company has a market cap of $962.59 million, a PE ratio of -1.83 and a beta of 2.31. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $3.51 and its two-hundred day moving average is $3.82.

Archer Aviation (NYSE:ACHR – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. Equities analysts predict that Archer Aviation will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ACHR. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, September 30th. HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Benchmark reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Check Out Our Latest Research Report on Archer Aviation

Insiders Place Their Bets

In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $3.35 per share, with a total value of $9,989,998.15. Following the completion of the purchase, the insider now owns 59,734,962 shares of the company’s stock, 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 can be accessed through this hyperlink. Insiders own 27.17% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Quadrature Capital Ltd bought a new stake in Archer Aviation during the 4th quarter valued at approximately $578,000. HighPoint Advisor Group LLC bought a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $75,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Archer Aviation by 196.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock worth $151,000 after acquiring an additional 21,662 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Archer Aviation by 266.5% during the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after acquiring an additional 30,075 shares during the period. Finally, Swiss National Bank raised its stake in Archer Aviation by 2.3% during the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after purchasing an additional 8,500 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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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