Investors Purchase High Volume of Call Options on Archer Aviation (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) saw some unusual options trading activity on Friday. Stock investors acquired 18,614 call options on the company. This represents an increase of approximately 143% compared to the typical daily volume of 7,675 call options.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of research analyst reports. Barclays lowered their price objective on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, July 1st. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $8.10.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently modified their holdings of the business. ARK Investment Management LLC increased its stake in Archer Aviation by 4.7% during the 4th quarter. ARK Investment Management LLC now owns 24,907,280 shares of the company’s stock valued at $152,931,000 after purchasing an additional 1,116,908 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Archer Aviation by 20.1% in the third quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after buying an additional 1,394,872 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Archer Aviation by 19.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock worth $8,513,000 after purchasing an additional 228,487 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Archer Aviation during the first quarter worth about $5,782,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in Archer Aviation during the fourth quarter worth about $3,825,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Price Performance

ACHR stock traded up $0.52 during trading on Friday, hitting $5.09. 12,696,876 shares of the company’s stock traded hands, compared to its average volume of 5,981,618. Archer Aviation has a 52 week low of $3.00 and a 52 week high of $7.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.01 and a current ratio of 6.01. The business has a fifty day simple moving average of $3.61 and a 200 day simple moving average of $4.42. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.01 and a beta of 2.35.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.08). During the same period in the previous year, the company posted ($0.46) EPS. As a group, research analysts expect that Archer Aviation will post -1.33 EPS for the current fiscal year.

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.