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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading on Monday. Traders purchased 154,843 call options on the stock. This is an increase of approximately 91% compared to the average daily volume of 81,101 call options.

Insider Transactions at Archer Aviation

In other news, General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now owns 45,416 shares of the company’s stock, valued at approximately $319,728.64. This represents a 52.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 80,919 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the sale, the chief technology officer now owns 1,253,294 shares of the company’s stock, valued at $16,280,289.06. This trade represents a 6.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 451,859 shares of company stock valued at $4,627,418 in the last quarter. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in the company. EP Wealth Advisors LLC lifted its position in Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after buying an additional 1,000 shares in the last quarter. Harbour Investments Inc. lifted its position in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Anchor Investment Management LLC lifted its position in Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after buying an additional 1,246 shares in the last quarter. Finally, Xponance Inc. lifted its position in Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Performance

Archer Aviation stock opened at $11.31 on Tuesday. The firm’s 50 day simple moving average is $8.98 and its 200-day simple moving average is $8.87. The company has a market cap of $6.21 billion, a P/E ratio of -8.57 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. Archer Aviation has a fifty-two week low of $2.82 and a fifty-two week high of $13.92.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. As a group, equities research analysts predict that Archer Aviation will post -1.32 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Friday, May 16th. HC Wainwright boosted their target price on Archer Aviation from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.19.

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.