In the last trading session, 5.97 million shares of the Archer Aviation Inc (NYSE:ACHR) were traded, and its beta was 2.43. Most recently the company’s share price was $4.62, and it changed around -$0.12 or -2.53% from the last close, which brings the market valuation of the company to $1.43B. ACHR currently trades at a discount to its 52-week high of $7.49, offering almost -62.12% off that amount. The share price’s 52-week low was $1.77, which indicates that the current value has risen by an impressive 61.69% since then. We note from Archer Aviation Inc’s average daily trading volume that its 10-day average is 6.6 million shares, with the 3-month average coming to 5.48 million.
Archer Aviation Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.17. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended ACHR as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Archer Aviation Inc is expected to report earnings per share of -$0.33 for the current quarter.
Archer Aviation Inc (NYSE:ACHR) trade information
Instantly ACHR has showed a red trend with a performance of -2.53% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -24.76% year-to-date, but still down -9.59% over the last five days. On the other hand, Archer Aviation Inc (NYSE:ACHR) is -2.12% down in the 30-day period. We can see from the shorts that 49.21 million shares have been sold at a short interest cover period of 6.39 day(s).
The consensus price target as assigned by Wall Street analysts is $4, which translates to bulls needing to decrease their stock price by -15.5% from its current value. Analyst projections state that ACHR is forecast to be at a low of $4 and a high of $4.
Archer Aviation Inc (ACHR) estimates and forecasts
Archer Aviation Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -5.91 percent over the past six months and at a 25.00% annual growth rate that is well above the industry average of 14.40%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 28.30% in revenue this quarter, and will report an increase of 52.10% in the next quarter.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $500k in revenue for the current quarter. 2 analysts expect Archer Aviation Inc to make $500k in revenue for the quarter ending Jun 2024.
Archer Aviation Inc earnings are expected to increase by -2.47% in 2024, but the outlook is negative -12.84% per year for the next five years.
ACHR Dividends
Archer Aviation Inc’s next quarterly earnings report is expected to be released around May 09 and May 13.
Archer Aviation Inc (NYSE:ACHR)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 27.40% of Archer Aviation Inc shares, and 45.76% of them are in the hands of institutional investors. The stock currently has a share float of 63.04%. Archer Aviation Inc stock is held by 281 institutions, with ARK Investment Management, LLC being the largest institutional investor. By Dec 30, 2023, it held 9.15% of the shares, which is about 24.91 million shares worth $115.07 million.
Blackrock Inc., with 5.63% or 15.32 million shares worth $70.8 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.
ARK ETF Tr-ARK Innovation ETF and SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF were the top two Mutual Funds as of Jan 30, 2024. The former held 13.0 million shares worth $60.06 million, making up 4.77% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR S&P Aerospace & Defense ETF held roughly 11.31 million shares worth around $52.24 million, which represents about 4.15% of the total shares outstanding.
