Archer Aviation Inc. [NYSE: ACHR] traded at a high on 12/29/22, posting a 2.82 gain after which it closed the day’ session at $1.82. The company report on December 20, 2022 that Archer’s Airworthiness Criteria for its Midnight Aircraft Published in Federal Register.
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Archer is the second company to achieve this significant milestone, further solidifying its standing as a leader in the eVTOL aircraft industry.
Midnight is designed to be safe, sustainable, quiet, carry four passengers plus a pilot (with an expected payload of over 1,000 pounds) and is optimized for back-to-back 20-mile trips, with a charging time of approximately 10 minutes in between.
The results of the trading session contributed to over 3169365 shares changing hands. Over the past one week, the price volatility of Archer Aviation Inc. stands at 8.35% while the volatility over the past one month is 7.07%.
The market cap for ACHR stock reached $450.14 million, with 238.59 million shares outstanding and 129.86 million shares in the current float. Compared to the average trading volume of 1.32M shares, ACHR reached a trading volume of 3169365 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 $8.42 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 0.15 The Price to Book ratio for the last quarter was 0.78, with the Price to Cash per share for the same quarter was set at 2.43.
How has ACHR stock performed recently?
Archer Aviation Inc. [ACHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.70. With this latest performance, ACHR shares dropped by -20.18% in over the last four-week period, additionally sinking by -40.91% over the last 6 months – not to mention a drop of -71.83% 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 34.71, with the RSI for the last a single of trading hit 35.55, and the three-weeks RSI is set at 35.66 for Archer Aviation Inc. [ACHR]. The present Moving Average for the last 50 days of trading for this stock 2.4106, while it was recorded at 1.7700 for the last single week of trading, and 3.4193 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 14.00 and a Current Ratio set at 14.00.
Insider trade positions for Archer Aviation Inc. [ACHR]
There are presently around $129 million, or 39.80% of ACHR stock, in the hands of institutional investors. The top three institutional holders of ACHR stocks are: BLACKROCK INC. with ownership of 10,713,248, which is approximately 10.72% of the company’s market cap and around 1.30% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 9,503,688 shares of the stock with an approximate value of $17.3 million in ACHR stocks shares; and STATE STREET CORP, currently with $13.86 million in ACHR stock with ownership of nearly 9.328% of the company’s market capitalization.
Positions in Archer Aviation Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 68 institutional holders increased their position in Archer Aviation Inc. [NYSE:ACHR] by around 6,317,843 shares. Additionally, 48 investors decreased positions by around 11,174,194 shares, while 23 investors held positions by with 53,264,177 shares. The mentioned changes placed institutional holdings at 70,756,214 shares, according to the latest SEC report filing. ACHR stock had 24 new institutional investments in for a total of 608,969 shares, while 18 institutional investors sold positions of 6,109,051 shares during the same period.