Archer Aviation Inc (NYSE:ACHR) shares traded -1.01% lower at $4.91 on Wall Street last session.
In accordance with the data, 7 analysts cover Archer Aviation Inc (NYSE:ACHR). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $4.50, we find $9.00. Given the previous closing price of $4.96, this indicates a potential upside of 81.45 percent. ACHR stock price is now -18.12% away from the 50-day moving average and 33.23% away from the 200-day moving average. The market capitalization of the company currently stands at $1.26B.
It has been rated a hold by 1 analysts and a buy by 5. Brokers who have rated the stock have averaged $9.21 as their price target over the next twelve months.
With the price target of $9, Canaccord Genuity recently initiated with Buy rating for Archer Aviation Inc (NYSE: ACHR).
In other news, Muniz Thomas Paul, Chief Operating Officer sold 85,000 shares of the company’s stock on Aug 21. The stock was sold for $612,000 at an average price of $7.20. Upon completion of the transaction, the Chief Operating Officer now directly owns 1,173,102 shares in the company, valued at $5.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 18, Chief Legal Off. & Secretary MISSAN ANDY sold 12,500 shares of the business’s stock. A total of $77,625 was realized by selling the stock at an average price of $6.21. This leaves the insider owning 251,384 shares of the company worth $1.23 million. Insiders disposed of 11,060,128 shares of company stock worth roughly $54.31 million over the past 1 year. A total of 41.19% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ACHR stock. A new stake in Archer Aviation Inc shares was purchased by DIMENSIONAL FUND ADVISORS LP during the first quarter worth $493,000. ALLIANCEBERNSTEIN L.P. invested $426,000 in shares of ACHR during the first quarter. In the first quarter, STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM acquired a new stake in Archer Aviation Inc valued at approximately $213,000. WEALTHSPIRE ADVISORS, LLC acquired a new stake in ACHR for approximately $178,000. INTELLECTUS PARTNERS, LLC purchased a new stake in ACHR valued at around $162,000 in the second quarter. In total, there are 182 active investors with 27.89% ownership of the company’s stock.
Archer Aviation Inc (NYSE: ACHR) opened at $4.9000 on Thursday. During the past 12 months, Archer Aviation Inc has had a low of $1.62 and a high of $7.49. As of last week, the company has a debt-to-equity ratio of 0.08, a current ratio of 2.68, and a quick ratio of 2.68. The fifty day moving average price for ACHR is $5.9976 and a two-hundred day moving average price translates $3.6992 for the stock.
The latest earnings results from Archer Aviation Inc (NYSE: ACHR) was released for Jun, 2023. According to the Aerospace & Defense Company, earnings per share came in at -$0.32, inline with analysts’ expectations of -$0.32. This compares to -$0.30 EPS in the same period last year. The company reported revenue of $181.4 million for the quarter, compared to $80.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 126.18 percent.
Archer Aviation Inc(ACHR) Company Profile
Archer Aviation Inc., an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. Archer Aviation Inc. was incorporated in 2018 and is headquartered in San Jose, California.
