Archer Aviation Inc. (NYSE:ACHR) finished Wednesday with an addition of $0.17 to close at $7.22, an upside of 2.41 percent. An average of 16,665,740 shares of common stock have been traded in the last five days. There was a gain of $1.28 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 13,634,109 shares traded, while the 50-day average volume stands at 9,185,750.
ACHR stock has increased by 51.05% in the last month. The company shares reached their 1-month lowest point of $4.44 on 07/24/23. With the stock rallying to its 52-week high on 08/23/23, shares of the company touched a low of $1.62 and a high of $7.47 in 52 weeks. It has reached a new high 24 times so far this year and achieved 286.10% or $5.35 in price. In spite of this, the price is down -3.35% 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 3 days ago on Aug 21. In this transaction, the insider spent $612,000. Chief Legal Off. & Secretary, MISSAN ANDY, disposed of 12,500 shares at a price of $6.21 on Aug 18. The insider now owns more than $77,625 worth of shares. Prior to that, Chief Operating Officer Muniz Thomas Paul went on to Sale 125,000 shares at $4.50 each on Jun 29. An amount of $562,500 was transacted.
Valuation Metrics
Archer Aviation Inc. (ACHR) stock’s beta is 2.35. Other valuation ratios to consider include the price-to-book (PB) ratio at 6.56.
Financial Health
The quick ratio of Archer Aviation Inc. for the three months ended June 29 was 2.70, and the current ratio was 2.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.02 for the quarter ending June 29. Its gross profit as reported stood at -$2.3 million compared to revenue of $347.4 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Archer Aviation Inc.’s return on assets was -88.00%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$184.1 million in the quarter, while revenues of -$113.1 million were grew 61.05%. The analyst consensus anticipated Archer Aviation Inc.’s latest quarter earnings to come in at -$0.32 per share, but it turned out to be -$0.32, a 0.00% surprise. For the quarter, EBITDA amounted to -$180.2 million. Shareholders own equity worth $255.74 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Archer Aviation Inc. (ACHR) price momentum. RSI 9-day as of the close on 23 August was 72.86%, suggesting the stock is Overbought, with historical volatility in this time frame at 96.81%.
As of today, ACHR’s price is $6.68 +21.55% or $1.28 from its 5-day moving average. ACHR is currently trading +48.56% higher than its 20-day SMA and +162.55% higher than its 100-day SMA. However, the stock’s current price level is +91.51% above the SMA50 and +171.43% above the SMA200.
The stochastic %K and %D were 82.62% and 69.51%, respectively, and the average true range (ATR) was 0.72. With the 14-day stochastic at 87.95% and the average true range at 0.67, the RSI (14) stands at 68.91%. The stock has reached 0.64 on the 9-day MACD Oscillator while the 14-day reading was at 0.91.
Analyst Ratings
Canaccord Genuity launched coverage on Archer Aviation Inc. (NYSE: ACHR) in its analyst report released on June 09, 2023. The firm assigned the stock a Buy rating. The consensus rating for Archer Aviation Inc. (ACHR) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ACHR, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.
What is ACHR’s price target for the next 12 months?
Analysts predict a range of price targets between $4.50 and $12.00, with a median target of $9.00. Taking a look at these predictions, the average price target given by analysts for Archer Aviation Inc. (ACHR) stock is $9.21.
