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. Traders acquired 18,614 call options on the stock. This represents an increase of 143% compared to the average volume of 7,675 call options.

Archer Aviation Stock Performance

NYSE:ACHR traded up $0.52 during trading hours on Friday, reaching $5.09. 12,696,876 shares of the company’s stock were exchanged, compared to its average volume of 5,981,618. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -3.01 and a beta of 2.35. The company has a 50-day moving average of $3.61 and a 200 day moving average of $4.42. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.08. Archer Aviation has a 1-year low of $3.00 and a 1-year high of $7.49.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the prior year, the firm posted ($0.46) EPS. Research analysts anticipate that Archer Aviation will post -1.33 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. CWM LLC increased its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Csenge Advisory Group purchased a new position in shares of Archer Aviation in the 2nd quarter valued at about $39,000. Tidal Investments LLC purchased a new position in shares of Archer Aviation in the 1st quarter valued at about $49,000. Vestor Capital LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $61,000. Finally, PFG Investments LLC purchased a new position in shares of Archer Aviation in the 1st quarter valued at about $67,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ACHR shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, July 1st. Barclays cut their target price on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research note on Friday, May 17th. JPMorgan Chase & Co. dropped their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Finally, Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.10.

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.