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

Archer Aviation Inc. (NYSE:ACHR) was the recipient of unusually large options trading activity on Friday. Traders acquired 115,409 call options on the stock. This is an increase of 122% compared to the average volume of 51,882 call options.

Analyst Upgrades and Downgrades

ACHR has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Needham & Company LLC cut their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Tosha Perkins sold 54,786 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the completion of the transaction, the insider directly owned 377,022 shares in the company, valued at approximately $2,435,562.12. This represents a 12.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 502,739 shares of company stock valued at $3,124,236. Corporate insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently made changes to their positions in the stock. Gould Capital LLC increased its position in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares during the last quarter. Strs Ohio acquired a new stake in shares of Archer Aviation during the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after acquiring an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Archer Aviation during the third quarter valued at about $29,000. Finally, Modus Advisors LLC acquired a new stake in shares of Archer Aviation during the fourth quarter valued at about $29,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Trading Up 3.7%

Archer Aviation stock traded up $0.23 during midday trading on Friday, hitting $6.35. 43,645,492 shares of the stock were exchanged, compared to its average volume of 35,636,723. Archer Aviation has a fifty-two week low of $4.80 and a fifty-two week high of $14.62. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -5.75 and a beta of 3.13. The stock’s 50-day simple moving average is $5.85 and its 200 day simple moving average is $7.14. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the previous year, the company posted ($0.17) EPS. On average, equities analysts anticipate that Archer Aviation will post -1.51 EPS for the current year.

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.