Archer Aviation Inc [NYSE: ACHR] stock went on a downward path that fall over -0.40% on Thursday, amounting to a one-week price decrease of less than -6.69%. The company report on January 17, 2024 at 4:00 AM that Atlantic Aviation and Archer Aviation Align to Pursue Development of Electric Aircraft Infrastructure Across LA, Northern California, South Florida, and NYC Regions.
Archer and Atlantic recently signed a memorandum of understanding (MOU) focused on opportunities to operationalize sites for electric aircraft in LA and New York City metropolitan areas, along with Northern California and South Florida.
Archer and Atlantic plan to install interoperable rapid charging system recently endorsed by General Aviation Manufacturers Association (GAMA).
Over the last 12 months, ACHR stock rose by 94.57%. The one-year Archer Aviation Inc stock forecast points to a potential upside of 46.37. The average equity rating for ACHR stock is currently 1.43, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.51 billion, with 300.78 million shares outstanding and 178.80 million shares in the current float. Compared to the average trading volume of 4.85M shares, ACHR stock reached a trading volume of 3756698 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $9.36 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 1.43. 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.
Canaccord Genuity have made an estimate for Archer Aviation Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 09, 2023.
The Average True Range (ATR) for Archer Aviation Inc is set at 0.29 The Price to Book ratio for the last quarter was 3.93, with the Price to Cash per share for the same quarter was set at 1.56.
ACHR Stock Performance Analysis:
Archer Aviation Inc [ACHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.69. With this latest performance, ACHR shares dropped by -25.07% in over the last four-week period, additionally plugging by 7.04% over the last 6 months – not to mention a rise of 94.57% 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 31.47, with the RSI for the last a single of trading hit 23.70, and the three-weeks RSI is set at 37.34 for Archer Aviation Inc [ACHR]. The present Moving Average for the last 50 days of trading for this stock 5.95, while it was recorded at 5.08 for the last single week of trading, and 4.79 for the last 200 days.
Insight into Archer Aviation Inc Fundamentals:
Archer Aviation Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.07 and a Current Ratio set at 4.07.
Archer Aviation Inc [ACHR] Institutonal Ownership Details
The top three institutional holders of ACHR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ACHR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ACHR stock with ownership which is approximately 5.8325%.