Stocks of Archer Aviation Inc (NYSE:ACHR) traded higher last session on Wall Street, up 2.66% to $5.02.
ACHR stock price is now -0.24% away from the 50-day moving average and -5.16% away from the 200-day moving average. The market capitalization of the company currently stands at $1.56B.
With the price target of $9, Canaccord Genuity recently initiated with Buy rating for Archer Aviation Inc (NYSE: ACHR). On July 27, 2022, Raymond James recently initiated its ‘Outperform’ rating on the stock quoting a target price of $8, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Stellantis N.V., 10% Owner bought 800,000 shares of the company’s stock on Mar 13 ’24. The stock was bought for $4,286,000 at an average price of $5.36. Upon completion of the transaction, the 10% Owner now directly owns 37,851,720 shares in the company, valued at $190.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 12 ’24, 10% Owner Stellantis N.V. bought 800,000 shares of the business’s stock. A total of $3,984,951 was incurred on buying the stock at an average price of $4.98. This leaves the insider owning 37,051,720 shares of the company worth $186.0 million. A total of 36.96% of the company’s stock is owned by insiders.
During the past 12 months, Archer Aviation Inc has had a low of $1.77 and a high of $7.49. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 4.21, and a quick ratio of 4.21. The fifty day moving average price for ACHR is $5.02 and a two-hundred day moving average price translates $5.30 for the stock.
The latest earnings results from Archer Aviation Inc (NYSE: ACHR) was released for Dec, 2023. According to the Aerospace & Defense Company, earnings per share came in at -$0.34, missing analysts’ expectations of -$0.33 by -0.01. This compares to -$0.39 EPS in the same period last year. The company reported revenue of $107.3 million for the quarter, compared to $108.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.74 percent. For the current quarter, analysts expect ACHR to generate $500k in revenue.
Archer Aviation Inc(ACHR) Company Profile
Archer Aviation Inc., together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. The company is headquartered in San Jose, California.
