Aerospace Stock Soars to 1-Year High on Air Force Deal

Options bulls are blasting ACHR in response to the news

Deputy Editor
Jul 31, 2023 at 3:02 PM
facebook X logo linkedin

The shares of Archer Aviation Inc (NYSE:ACHR) soared to a fresh one-year high today, after the aerospace and defense name entered a deal to provide up to six of its "Midnight" aircrafts to the U.S. Air Force. At last glance, the security was up 41.7% to trade at $6.79, pacing for its best single-day percentage gain on record while sporting a 263.1% year-to-date lead.

Over in the options pits, 20,000 calls -- seven times the intraday average amount -- have crossed the tape in comparison to just 3,163 puts. The August 7.50 call is the most popular contract by far, with new positions being bought to open there. 

Meanwhile, the brokerage bunch is quite bullish. Six of the seven analysts in coverage carry a "buy" or better rating, while the 12-month consensus price target of $9.25 sits at a roughly 34.8% premium to current levels. 

It's also worth noting that short interest represents 11.6% of the stock's available float. It would take over three days for shorts to cover their bets, at ACHR's average pace of trading. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.