Archer Aviation Inc. (NYSE:ACHR – Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 115,409 call options on the company. This represents an increase of approximately 122% compared to the average volume of 51,882 call options.
Archer Aviation Price Performance
ACHR traded up $0.23 during midday trading on Friday, hitting $6.35. 43,645,492 shares of the company traded hands, compared to its average volume of 35,636,723. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of -5.75 and a beta of 3.13. Archer Aviation has a 52-week low of $4.80 and a 52-week high of $14.62. The business has a 50 day simple moving average of $5.85 and a two-hundred day simple moving average of $7.14.
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm posted ($0.17) earnings per share. On average, equities analysts forecast that Archer Aviation will post -1.51 earnings per share for the current fiscal year.
Insider Transactions at Archer Aviation
Hedge Funds Weigh In On Archer Aviation
Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Jackson Hole Trust lifted its stake in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its stake in shares of Archer Aviation by 2.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after buying an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Archer Aviation by 7.0% in the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after buying an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after buying an additional 1,237 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after buying an additional 1,254 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Needham & Company LLC lowered their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.
Check Out Our Latest Research Report on Archer Aviation
About Archer Aviation
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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