The stock of Archer Aviation Inc. (NYSE:ACHR) increased by $0.63 on Friday to finish at $6.40, up 10.92 percent. The last five days have seen an average of 12,811,091 shares of common stock traded. 22 times new highs were reached in the current year, with a gain of $4.61. The average number of shares traded over the last 20 days was 9,059,423, while the average volume over the last 50 days totaled 7,186,563.
ACHR stock appreciated 30.61% since last month. On 07/24/23, the company’s shares reached a one-month low of $4.44. The stock touched a high of $7.10 on 08/01/23, after rallying from a low of $1.62 in 52 weeks. The price of ACHR stock has risen by 242.25% or $4.61 this year, reaching a new high 22 times. Still, the stock price is down -9.86% from the 52-week high.
Insider Transactions
ACHR stock investors should be aware that Archer Aviation Inc. (ACHR) stock had its last reported insider trading activity 46 days ago on Jun 29. On Jun 29, Chief Operating Officer Muniz Thomas Paul sold 125,000 shares at $4.50 each. This transaction resulted in the insider making $562,500. On Jun 29, MISSAN ANDY sold 10,000 shares at a price of US$4.50. After the transaction, the insider now owns 201,155 shares. Chief Legal Off. & Secretary MISSAN ANDY had earlier sold 27,500 shares on Jun 20 for $4.09 a share. The transaction was completed for $112,544.
Financial Health
For the three months ended June 29, Archer Aviation Inc.’s quick ratio was 7.30, while its current ratio was 7.30, indicating its ability to pay off its debt. Based on annual data, it had gross profit of -$2.3 million and revenue of $347.4 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ACHR’s return on assets (ROA) during the last 12 months has been -61.60%. In the meantime, the return on equity (ROE) for the last 12 months was -71.40%.
Earnings Surprise
According to Archer Aviation Inc.’s quarterly financial report for the quarter that ended June 29, it had $150.7 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Archer Aviation Inc.’s quarterly earnings would be -$0.32, but it ended up being -$0.32. EBITDA was -$110.8 million for the quarter. At the end of Archer Aviation Inc.’s most recent quarter ended June 29, its liabilities totaled 95.8 million, while its total debt was $21.5 million. Equity owned by shareholders amounts to $247.45 million.
Technical Picture
Here’s a quick look at Archer Aviation Inc.’s (ACHR) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 68.64%, suggesting the stock is Neutral, with a 81.51% historical volatility rate.
The stochastic %K and %D were 58.99% and 53.01% respectively, while the average true range (ATR) was 0.63. Based on the 14-day stochastic reading of 76.06%, the RSI (14) reading is 65.79%. On the 9-day MACD Oscillator, the stock is at 0.11, and the 14-day reading is at 0.26.
Analyst Ratings
In its analyst report released on June 09, 2023, Canaccord Genuity began covering Archer Aviation Inc. (NYSE: ACHR). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Archer Aviation Inc. (ACHR) an Buy rating. ACHR is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is ACHR’s price target for the next 12 months?
The current consensus forecast for the stock is between $4.50 and $12.00, with a median target price of $9.00. In analyzing these forecasts, the average price target given by analysts for Archer Aviation Inc. (ACHR) is $9.07.
