As of Wednesday close, Archer Aviation Inc.’s (NYSE:ACHR) stock was down -$0.23, moving down -3.70 percent to $5.98. The average number of shares traded per day over the past five days has been 8,468,260 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.49 fall in that time frame. In the last twenty days, the average volume was 10,019,730, while in the previous 50 days, it was 10,482,260.
Since last month, ACHR stock retreated -14.57%. Shares of the company fell to $5.62 on 08/25/23, the lowest level in the past month. A 52-week high of $7.49 was reached on 08/23/23 after having rallying from a 52-week low of $1.62. Since the beginning of this year, ACHR’s stock price has risen by 219.79% or $4.11, and marked a new high 24 times. However, the stock has declined by -20.16% since its 52-week high.
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ACHR stock investors should be aware that Archer Aviation Inc. (ACHR) stock had its last reported insider trading activity 31 days ago on Aug 21. Muniz Thomas Paul, the Chief Operating Officer of the company, disposed of 85,000 shares for $7.20 on Aug 21. It resulted in a $612,000 divestment by the insider. MISSAN ANDY sold 12,500 shares at an average price of $6.21 on Aug 18. The insider now owns 251,384 shares following the transaction. On Jun 29, Chief Operating Officer Muniz Thomas Paul sold 125,000 shares at $4.50 apiece. The transaction was valued at $562,500.
Financial Health
In the three months ended June 29, Archer Aviation Inc.’s quick ratio stood at 2.70, while its current ratio was 2.70, 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 -$0.32 quarterly earnings, the actual figure was -$0.32 per share. During the quarter, the company generated -$180.2 million in EBITDA. The liabilities of Archer Aviation Inc. were 205.2 million at the end of its most recent quarter ended June 29, and its total debt was $21.5 million. The value of shareholders’ equity is $255.74 million.
Technical Picture
This quick technical analysis looks at Archer Aviation Inc.’s (ACHR) price momentum. With a historical volatility rate of 58.76%, the RSI 9-day stood at 37.93% on 20 September.
With respect to its five-day moving average, the current Archer Aviation Inc. price is down by -7.57% percent or -$0.49. At present, ACHR shares trade -15.18% below its 20-day simple moving average and +218.09% percent above its 100-day simple moving average. However, the stock is currently trading approximately +33.48% above its SMA50 and +131.78% above its SMA200.
Stochastic coefficient K was 26.41% and Stochastic coefficient D was 30.97%, while ATR was 0.47. Given the Stochastic reading of 0.00% for the 14-day period, the RSI (14) reading has been calculated as 44.87%. As of today, the MACD Oscillator reading stands at -0.32, while the 14-day reading stands at -0.33.
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 Buy 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 5 recommending it as overweight.
With a median target price of $9.00, 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 $9.21.
