Stock Traders Purchase High Volume of Archer Aviation Call Options (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) was the recipient of some unusual options trading activity on Monday. Traders purchased 102,231 call options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 46,340 call options.

Archer Aviation Stock Performance

Shares of ACHR traded up $0.90 during mid-day trading on Monday, reaching $6.49. The company had a trading volume of 55,739,952 shares, compared to its average volume of 37,407,113. Archer Aviation has a 52-week low of $4.30 and a 52-week high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.93 billion, a P/E ratio of -5.92 and a beta of 3.20. The stock has a 50 day moving average of $5.18 and a two-hundred day moving average of $5.99.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter last year, the business posted ($0.17) earnings per share. On average, analysts expect that Archer Aviation will post -1.4 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 48,169 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. The trade was a 25.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the transaction, the chief technology officer owned 1,462,314 shares in the company, valued at $8,700,768.30. The trade was a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 250,743 shares of company stock worth $1,497,672. 5.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its holdings in shares of Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after purchasing an additional 1,220 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after purchasing an additional 1,373 shares during the last quarter. Choreo LLC lifted its holdings in shares of Archer Aviation by 8.1% during the fourth quarter. Choreo LLC now owns 20,802 shares of the company’s stock worth $157,000 after purchasing an additional 1,555 shares during the period. Geneos Wealth Management Inc. grew its position in Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after buying an additional 1,702 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Key Archer Aviation News

Here are the key news stories impacting Archer Aviation this week:

• Positive Sentiment: Major Boeing acquisition: Archer will acquire Boeing’s Wisk Aero, Insitu and SkyGrid subsidiaries in an all-stock transaction. The deal adds autonomous aircraft technology, drone capabilities and airspace-management infrastructure, creating a broader end-to-end aerospace and defense platform. Reuters article
• Positive Sentiment: Profitable revenue added: Archer said the acquired defense business generates more than $200 million in annual revenue and operates across 35 countries. This could provide Archer with a meaningful commercial and military business alongside its still-developing air-taxi operations. Archer Aviation press release
• Positive Sentiment: Boeing endorsement and collaboration: Boeing will receive nearly a 20% stake in the combined company and continue collaborating with Archer on Wisk’s autonomous-flight technology. Boeing’s investment validates Archer’s strategy and may improve access to aerospace expertise, customers and funding. CNBC article

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACHR shares. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Finally, Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.83.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.