Market cap of Archer Aviation Inc. [ACHR] reaches 968.93M – now what?


Archer Aviation Inc. [NYSE: ACHR] traded at a high on 07/27/22, posting a 10.98 gain after which it closed the day’ session at $3.64. The company report on July 27, 2022 that ARCHER SELECTS HONEYWELL FOR SUPPLY OF ACTUATORS AND CLIMATE SYSTEM TECHNOLOGY FOR ITS PRODUCTION AIRCRAFT, ADDING TO ITS GROWING SUPPLY BASE OF AEROSPACE INDUSTRY LEADERS.

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The relationship demonstrates Archer’s continued momentum as it moves toward its goal of achieving Type Certification of its production aircraft in 2024.

Archer Aviation Inc. (“Archer”) (NYSE: ACHR) has entered into an agreement with Honeywell (NASDAQ: HON) covering the supply of flight control actuation and thermal management technologies. Honeywell’s actuation technology is a key enabler of Archer’s 12 tilt 6 configuration, and Honeywell’s thermal management technology will help Archer provide a best-in-class in-cabin experience for its passengers.

The results of the trading session contributed to over 3959994 shares changing hands. Over the past one week, the price volatility of Archer Aviation Inc. stands at 7.57% while the volatility over the past one month is 8.77%.

The market cap for ACHR stock reached $968.93 million, with 238.78 million shares outstanding and 129.54 million shares in the current float. Compared to the average trading volume of 2.67M shares, ACHR reached a trading volume of 3959994 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Archer Aviation Inc. [ACHR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ACHR shares is $9.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ACHR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for Archer Aviation Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 27, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on April 28, 2022, representing the official price target for Archer Aviation Inc. stock. Previously, the target price had yet another raise to $10, while Deutsche Bank analysts kept a Buy rating on ACHR stock.

The Average True Range (ATR) for Archer Aviation Inc. is set at 0.30 The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 2.65.

How has ACHR stock performed recently?

Archer Aviation Inc. [ACHR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.69. With this latest performance, ACHR shares dropped by -4.46% in over the last four-week period, additionally plugging by 14.11% over the last 6 months – not to mention a drop of -63.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACHR stock in for the last two-week period is set at 54.75, with the RSI for the last a single of trading hit 61.32, and the three-weeks RSI is set at 51.71 for Archer Aviation Inc. [ACHR]. The present Moving Average for the last 50 days of trading for this stock 3.71, while it was recorded at 3.35 for the last single week of trading, and 4.55 for the last 200 days.

Archer Aviation Inc. [ACHR]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -57.95, with Return on Assets sitting at -54.78.

Archer Aviation Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 20.90 and a Current Ratio set at 20.90.

Insider trade positions for Archer Aviation Inc. [ACHR]

There are presently around $204 million, or 29.30% of ACHR stock, in the hands of institutional investors. The top three institutional holders of ACHR stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 10,173,526, which is approximately -6.844% of the company’s market cap and around 16.20% of the total institutional ownership; GREYCROFT LP, holding 5,347,947 shares of the stock with an approximate value of $19.47 million in ACHR stocks shares; and SUMITOMO MITSUI TRUST HOLDINGS, INC., currently with $19.19 million in ACHR stock with ownership of nearly New of the company’s market capitalization.

Positions in Archer Aviation Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 58 institutional holders increased their position in Archer Aviation Inc. [NYSE:ACHR] by around 15,936,453 shares. Additionally, 44 investors decreased positions by around 12,431,204 shares, while 20 investors held positions by with 27,550,706 shares. The mentioned changes placed institutional holdings at 55,918,363 shares, according to the latest SEC report filing. ACHR stock had 29 new institutional investments in for a total of 12,137,964 shares, while 23 institutional investors sold positions of 6,569,011 shares during the same period.