Archer Aviation Inc [NYSE: ACHR] stock went on an upward path that rose over 4.37% on Monday, amounting to a one-week price increase of more than 6.70%. The company report on March 11, 2024 at 9:00 AM that Archer and Falcon Aviation to Jointly Develop Vertiport Network in Dubai and Abu Dhabi for the Launch of Flying Car Operations in UAE as Soon as 2025.
Archer and Falcon Aviation will jointly develop a vertiport network in Dubai and Abu Dhabi, enabling flights between the two cities with Archer’s Midnight flying car while establishing a key operational development for Archer’s plans to launch across the Emirates in both cities as soon as 2025.
On March 8, 2024, Falcon Aviation launched the upgraded Falcon Tours Heliport Terminal at the iconic Atlantis, The Palm, which provides helicopter charter service to locals and tourists alike between Dubai’s top hotel on the Palm Jumeirah to key destinations, including Abu Dhabi and other cities in the UAE, as well as sightseeing trips above Dubai’s iconic skyline. As early as next year, the companies plan for this hub to serve Archer’s Midnight aircraft, operated by Falcon Aviation, as a quieter, safer, and more affordable option than helicopters.
Over the last 12 months, ACHR stock rose by 68.90%. The one-year Archer Aviation Inc stock forecast points to a potential upside of 51.37. The average equity rating for ACHR stock is currently 1.17, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.48 billion, with 265.62 million shares outstanding and 191.35 million shares in the current float. Compared to the average trading volume of 5.05M shares, ACHR stock reached a trading volume of 9276142 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 $9.83 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 1.17. 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 0.32 The Price to Book ratio for the last quarter was 3.96, with the Price to Cash per share for the same quarter was set at 1.52.
ACHR Stock Performance Analysis:
Archer Aviation Inc [ACHR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.70. With this latest performance, ACHR shares dropped by -7.72% in over the last four-week period, additionally sinking by -29.81% over the last 6 months – not to mention a rise of 68.90% 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 48.53, with the RSI for the last a single of trading hit 52.95, and the three-weeks RSI is set at 46.83 for Archer Aviation Inc [ACHR]. The present Moving Average for the last 50 days of trading for this stock 5.09, while it was recorded at 4.42 for the last single week of trading, and 5.26 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 4.21 and a Current Ratio set at 4.21.
ACHR Stock EPS
With the latest financial reports released by the company, Archer Aviation Inc posted -0.46/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -48.40%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Archer Aviation Inc go to -12.84%.
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%.
