Archer Aviation Inc [NYSE: ACHR] plunged by -$0.05 during the normal trading session on while it closed the day at $4.74. 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.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
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.
Archer Aviation Inc stock has also loss -6.32% of its value over the past 7 days. However, ACHR stock has declined by -26.63% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.25% and lost -22.80% year-on date.
The market cap for ACHR stock reached $1.47 billion, with 265.62 million shares outstanding and 190.73 million shares in the current float. Compared to the average trading volume of 5.45M shares, ACHR reached a trading volume of 5559480 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $9.83 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 0.31 The Price to Book ratio for the last quarter was 3.92, with the Price to Cash per share for the same quarter was set at 1.52.
ACHR stock trade performance evaluation
Archer Aviation Inc [ACHR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.32. With this latest performance, ACHR shares dropped by -1.25% in over the last four-week period, additionally sinking by -1.25% over the last 6 months – not to mention a rise of 87.35% 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 46.07, with the RSI for the last a single of trading hit 44.50, and the three-weeks RSI is set at 46.29 for Archer Aviation Inc [ACHR]. The present Moving Average for the last 50 days of trading for this stock 4.95, while it was recorded at 4.90 for the last single week of trading, and 5.38 for the last 200 days.
Archer Aviation Inc [ACHR]: An insightful look at the core 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.
Earnings per share (EPS) analysis for Archer Aviation Inc [ACHR] stock
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]: Institutional Ownership
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%.
