Stocks of Archer Aviation Inc (NYSE:ACHR) traded higher last session on Wall Street, down -5.45% to $5.90.
According to the data, Archer Aviation Inc (NYSE:ACHR) has 6 analysts covering its stock. 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 $6.24, this indicates a potential upside of 52.24 percent. ACHR stock price is now 10.52% away from the 50-day moving average and 42.00% away from the 200-day moving average. The market capitalization of the company currently stands at $1.77B.
A total of 0 analysts have issued a hold rating and 5 have given it a buy rating. 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, MISSAN ANDY, Chief Legal Off. & Secretary sold 12,500 shares of the company’s stock on Nov 17. The stock was sold for $79,875 at an average price of $6.39. Upon completion of the transaction, the Chief Legal Off. & Secretary now directly owns 281,562 shares in the company, valued at $1.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 16, 10% Owner Stellantis N.V. bought 12,313,234 shares of the business’s stock. A total of $69,999,504 was incurred on buying the stock at an average price of $5.68. This leaves the insider owning 31,048,137 shares of the company worth $183.18 million. Insiders disposed of 8,459,760 shares of company stock worth roughly $49.91 million over the past 1 year. A total of 44.07% of the company’s stock is owned by insiders.
Tuesday’s opening bell rang with an opening price of $6.15 for Archer Aviation Inc (NYSE: ACHR). 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 $5.34 and a two-hundred day moving average price translates $4.15 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.
