As of Friday close, Archer Aviation Inc.’s (NYSE:ACHR) stock was down -$0.44, moving down -7.28 percent to $5.60. The average number of shares traded per day over the past five days has been 14,316,060 shares. 2 times new highs have been achieved over the past 5 days, with a $0.82 gain in that time frame. In the last twenty days, the average volume was 7,688,900, while in the previous 50 days, it was 6,087,778.
Since last month, ACHR stock rose 29.93%. Shares of the company fell to $4.12 on 07/05/23, the lowest level in the past month. A 52-week high of $7.10 was reached on 08/01/23 after having rallying from a 52-week low of $1.62. Since the beginning of this year, ACHR’s stock price has risen by 199.47% or $3.73, and marked a new high 22 times. However, the stock has declined by -21.13% since its 52-week high.
ACHR stock investors should be aware that Archer Aviation Inc. (ACHR) stock had its last reported insider trading activity 37 days ago on Jun 29. Muniz Thomas Paul, the Chief Operating Officer of the company, disposed of 125,000 shares for $4.50 on Jun 29. It resulted in a $562,500 divestment by the insider. MISSAN ANDY sold 10,000 shares at an average price of $4.50 on Jun 29. The insider now owns 201,155 shares following the transaction. On Jun 20, Chief Legal Off. & Secretary MISSAN ANDY sold 27,500 shares at $4.09 apiece. The transaction was valued at $112,544.
Financial Health
In the three months ended March 30, Archer Aviation Inc.’s quick ratio stood at 7.30, while its current ratio was 7.30, showing that the company is able to pay off its debt. Based on annual data, ACHR earned -$2.3 million in gross profit and brought in $347.4 million in revenue.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Archer Aviation Inc. to report -$0.31 quarterly earnings, the actual figure was -$0.33 per share, beating the consensus estimate by -6.50%. During the quarter, the company generated -$110.8 million in EBITDA. The liabilities of Archer Aviation Inc. were 95.8 million at the end of its most recent quarter ended March 30, and its total debt was $18.9 million. The value of shareholders’ equity is $247.45 million.
Technical Picture
This quick technical analysis looks at Archer Aviation Inc.’s (ACHR) price momentum. With a historical volatility rate of 190.94%, the RSI 9-day stood at 54.40% on 04 August.
With respect to its five-day moving average, the current Archer Aviation Inc. price is up by +17.15% percent or $0.82. At present, ACHR shares trade +19.66% above its 20-day simple moving average and +102.17% percent above its 100-day simple moving average. However, the stock is currently trading approximately +78.34% above its SMA50 and +97.18% above its SMA200.
Stochastic coefficient K was 59.27% and Stochastic coefficient D was 71.00%, while ATR was 0.58. Given the Stochastic reading of 43.61% for the 14-day period, the RSI (14) reading has been calculated as 56.87%. As of today, the MACD Oscillator reading stands at 0.43, while the 14-day reading stands at 0.72.
Analyst Ratings
Canaccord Genuity launched its rating on Archer Aviation Inc. (NYSE: ACHR) to a Buy in a note to investors on June 09, 2023. Archer Aviation Inc. (ACHR) has been rated Overweight by analysts. According to 0 brokerage firms, ACHR is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Archer Aviation Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $8.50, the current consensus forecast for the stock is $4.50 – $12.00. Based on these forecasts, analysts predict Archer Aviation Inc. (ACHR) will achieve an average price target of $8.25.
