Traders Buy High Volume of Call Options on Archer Aviation (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHRGet Free Report) was the target of unusually large options trading on Monday. Traders purchased 77,081 call options on the stock. This represents an increase of approximately 71% compared to the typical daily volume of 45,024 call options.

Trending Headlines about Archer Aviation

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

Insiders Place Their Bets

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the sale, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. This trade represents a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Archer Aviation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the sale, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. This trade represents a 5.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 250,743 shares of company stock worth $1,497,672 in the last three months. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 1,702 shares during the period. Gould Capital LLC boosted its position in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares in the last quarter. Strs Ohio purchased a new position in Archer Aviation in the first quarter valued at about $27,000. Finally, Modus Advisors LLC purchased a new position in Archer Aviation in the fourth quarter valued at about $29,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group decreased their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has an average rating of “Hold” and an average target price of $11.83.

View Our Latest Stock Report on Archer Aviation

Archer Aviation Trading Up 18.8%

ACHR stock traded up $0.83 during trading on Monday, reaching $5.28. 53,927,727 shares of the stock traded hands, compared to its average volume of 37,619,867. The firm has a market capitalization of $4.01 billion, a PE ratio of -4.80 and a beta of 3.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The business’s 50 day moving average price is $5.57 and its 200-day moving average price is $6.36. Archer Aviation has a 52-week low of $4.30 and a 52-week high of $14.62.

Archer Aviation (NYSE:ACHRGet Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the business posted ($0.17) EPS. As a group, sell-side analysts forecast that Archer Aviation will post -1.47 earnings per share for the current year.

Archer Aviation Company Profile

(Get Free Report)

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.

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