Market Analysts see Archer Aviation Inc [ACHR] gaining to $9. Time to buy?

Archer Aviation Inc [NYSE: ACHR] gained 2.29% on the last trading session, reaching $4.92 price per share at the time. The company report on February 26, 2024 at 4:05 PM that Archer Announces Fourth Quarter and Full Year 2023 Results; Now In Final Phase of Midnight’s Certification Program as it Readies for Launch in 2025.

Approximately 80% of Archer’s Midnight aircraft’s subsystems and components are sourced from leading aerospace suppliers with certification heritage giving it a significantly de-risked path to certification.

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Construction of three conforming Midnight aircraft underway as flight test program makes rapid progress and Archer expects to complete 400 test flights in 2024.

If compared to the average trading volume of 4.62M shares, ACHR reached a trading volume of 6842138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $8.30 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 1.60. 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. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on July 27, 2022, representing the official price target for Archer Aviation Inc stock. Previously, the target price had yet another raise to $7, while JP Morgan analysts kept a Overweight rating on ACHR stock.

The Average True Range (ATR) for Archer Aviation Inc is set at 0.28 The Price to Book ratio for the last quarter was 3.85, with the Price to Cash per share for the same quarter was set at 1.56.

Trading performance analysis for ACHR stock

Archer Aviation Inc [ACHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.11. With this latest performance, ACHR shares dropped by -1.20% in over the last four-week period, additionally sinking by -25.00% over the last 6 months – not to mention a rise of 72.03% 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 43.99, with the RSI for the last a single of trading hit 42.86, and the three-weeks RSI is set at 44.54 for Archer Aviation Inc [ACHR]. The present Moving Average for the last 50 days of trading for this stock 5.49, while it was recorded at 4.96 for the last single week of trading, and 5.17 for the last 200 days.

Archer Aviation Inc [ACHR]: A deeper dive into fundamental analysis

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]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Archer Aviation Inc posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.29/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACHR.

An analysis of Institutional ownership at Archer Aviation Inc [ACHR]

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%.