why Archer Aviation Inc [ACHR] is a Good Choice for Investors After New Price Target of $9.83

Archer Aviation Inc [NYSE: ACHR] slipped around -0.17 points on Tuesday, while shares priced at $4.33 at the close of the session, down -3.78%. The company report on March 28, 2024 at 9:00 AM that Archer Successfully Completes Multiple Battery Pack Drop Tests; One of the Most Challenging Tests It Is Set to Face as Part of the FAA’s Type Certification Program.

Archer’s recent successful battery pack drop tests signify a major milestone for Midnight’s program putting Archer in a strong position to pass this same test in upcoming for-credit testing with the Federal Aviation Administration (“FAA”).

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Midnight’s battery packs were dropped from 50 feet at 100%, 30% and 0% state of charge at a National Institute for Aviation Research (“NIAR”) lab to simulate extreme impact scenarios.

Compared to the average trading volume of 5.52M shares, ACHR reached a trading volume of 4158591 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 $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 0.29 The Price to Book ratio for the last quarter was 3.58, with the Price to Cash per share for the same quarter was set at 1.52.

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 -12.53. With this latest performance, ACHR shares dropped by -4.84% in over the last four-week period, additionally sinking by -14.43% over the last 6 months – not to mention a rise of 57.45% 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 37.39, with the RSI for the last a single of trading hit 31.38, and the three-weeks RSI is set at 40.28 for Archer Aviation Inc [ACHR]. The present Moving Average for the last 50 days of trading for this stock 4.91, while it was recorded at 4.60 for the last single week of trading, and 5.38 for the last 200 days.

Archer Aviation Inc [ACHR]: Deeper insight into the 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 analysis for Archer Aviation Inc [ACHR]

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%.

Insider trade positions for Archer Aviation Inc [ACHR]

The top three institutional holders of ACHR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ACHR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ACHR stock with ownership which is approximately 5.8386%.