Archer Aviation Inc (NYSE:ACHR) shares traded 15.00% higher at $5.98 on Wall Street last session.
In accordance with the data, 6 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 $7.00, we find $9.50. Given the previous closing price of $5.20, this indicates a potential upside of 82.69 percent. ACHR stock price is now 11.37% away from the 50-day moving average and 46.86% away from the 200-day moving average. The market capitalization of the company currently stands at $1.52B.
It has been rated a hold by 0 analysts and a buy by 5. Brokers who have rated the stock have averaged $9.83 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, Stellantis N.V., 10% Owner bought 12,313,234 shares of the company’s stock on Oct 16. The stock was bought for $69,999,504 at an average price of $5.68. Upon completion of the transaction, the 10% Owner now directly owns 31,048,137 shares in the company, valued at $185.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, Chief Operating Officer Muniz Thomas Paul sold 85,000 shares of the business’s stock. A total of $612,000 was realized by selling the stock at an average price of $7.20. This leaves the insider owning 1,173,102 shares of the company worth $7.02 million. Insiders disposed of 8,523,591 shares of company stock worth roughly $50.97 million over the past 1 year. A total of 45.79% of the company’s stock is owned by insiders.
Archer Aviation Inc (NYSE: ACHR) opened at $5.48 on Tuesday. 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 0.05, a current ratio of 4.07, and a quick ratio of 4.07. The fifty day moving average price for ACHR is $5.37 and a two-hundred day moving average price translates $4.07 for the stock.
The latest earnings results from Archer Aviation Inc (NYSE: ACHR) was released for Sep, 2023. According to the Aerospace & Defense Company, earnings per share came in at -$0.26, beating analysts’ expectations of -$0.3 by 0.04. This compares to -$0.38 EPS in the same period last year. The company reported revenue of $46.2 million for the quarter, compared to $93.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -50.75 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.