Deborah Diaz, a director at Archer Aviation (ACHR), recently bought 12,000 shares. The buy increased her stake by 54 percent, and came to a total cost of $53,640.
This marks the first insider buy at the company since January, when a cluster of insiders, including the CEO and CFO, bought shares. Since then, a major holder has been a repeated seller of shares, as well as the company COO.
Overall, Archer insiders own 26 percent of shares.
The electric aviation vehicle producer is down 14 percent over the past year and trades down over 80 percent from its peak.
The early stage company is not yet profitable, but is starting to produce its vertical-take-off electric aircraft. Someday, these vehicles could create a fleet of air taxis. Plus, Archer has over $440 million in cash on the balance sheet, which should allow it to avoid issuing more stock or going into debt anytime soon.
Action to take: Shares are still speculative here, but the stock is well off its lows and Archer is building partnerships, and stands a reasonable chance of succeeding. That could make for a speculative long-term buy here.
For traders, shares are in an uptrend, but have pulled back in recent weeks. The October $5 calls, last going for about $0.25, could see high double-digit returns on a pop higher in shares in the coming months.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.