During the last session, Archer Aviation Inc. (NYSE:ACHR)’s traded shares were 2.33 million. At the end of the trading day, the stock’s price was $3.04, reflecting an intraday loss of -3.18% or -$0.1. The 52-week high for the ACHR share is $5.16, that puts it down -69.74 from that peak though still a striking 46.71% gain since the share price plummeted to a 52-week low of $1.62. The company’s market capitalization is $729.14M, and the average intraday trading volume over the past 10 days was 3.51 million shares, and the average trade volume was 1.94 million shares over the past three months.
Archer Aviation Inc. (ACHR) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.20. ACHR has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.31.
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Archer Aviation Inc. (NYSE:ACHR) trade information
Archer Aviation Inc. (ACHR) registered a -3.18% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -3.18% in intraday trading to $3.04 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 3.75%, and it has moved by 66.12% in 30 days. Based on these gigs, the overall price performance for the year is -13.14%. The short interest in Archer Aviation Inc. (NYSE:ACHR) is 12.46 million shares and it means that shorts have 7.29 day(s) to cover.
The consensus price target of analysts on Wall Street is $9.40, which implies an increase of 67.66% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.00 and $12.00 respectively. As a result, ACHR is trading at a discount of -294.74% off the target high and -64.47% off the low.
Archer Aviation Inc. (ACHR) estimates and forecasts
Statistics show that Archer Aviation Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Archer Aviation Inc. (ACHR) shares have gone up 28.27% during the last six months, with a year-to-date growth rate less than the industry average at -58.43% against 8.00. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -82.40% this quarter and then drop -19.20% in the quarter after that.
While earnings are projected to return 10.20% in 2023.
Archer Aviation Inc. is due to release its next quarterly earnings between August 08 and August 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Archer Aviation Inc. (NYSE:ACHR)’s Major holders
Archer Aviation Inc. insiders own 26.03% of total outstanding shares while institutional holders control 39.16%, with the float percentage being 52.94%. Blackrock Inc. is the largest shareholder of the company, while 172 institutions own stock in it. As of Mar 30, 2023, the company held over 11.88 million shares (or 6.43% of all shares), a total value of $33.99 million in shares.
The next largest institutional holding, with 8.8 million shares, is of ARK Investment Management, LLC’s that is approximately 4.76% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $25.18 million.
Also, the Mutual Funds coming in first place with the largest holdings of Archer Aviation Inc. (ACHR) shares are ARK ETF Tr-ARK Autonomous Technology & Robotics ETF and Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF. Data provided on Mar 30, 2023 indicates that ARK ETF Tr-ARK Autonomous Technology & Robotics ETF owns about 6.85 million shares. This amounts to just over 3.71 percent of the company’s overall shares, with a $19.6 million market value. The same data shows that the other fund manager holds slightly less at 3.83 million, or about 2.08% of the stock, which is worth about $10.96 million.