In the latest trading session, 2.08 million Archer Aviation Inc (NYSE:ACHR) shares changed hands as the company’s beta touched 2.31. With the company’s most recent per share price at $3.14 changed hands at -$0.05 or -1.57% at last look, the market valuation stands at $1.12B. ACHR’s current price is a discount, trading about -123.25% off its 52-week high of $7.01. The share price had its 52-week low at $2.82, which suggests the last value was 10.19% up since then. When we look at Archer Aviation Inc’s average trading volume, we note the 10-day average is 8.97 million shares, with the 3-month average coming to 9.80 million.
Analysts gave the Archer Aviation Inc (ACHR) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.38. If we narrow down to specifics, the data shows that 0 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended ACHR as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Archer Aviation Inc’s EPS for the current quarter is expected to be -0.32.
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Archer Aviation Inc (NYSE:ACHR) trade information
Instantly ACHR was in red as seen in intraday trades today. With action 1.94%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -48.86%, with the 5-day performance at 1.94% in the green. However, in the 30-day time frame, Archer Aviation Inc (NYSE:ACHR) is 2.61% up. Looking at the short shares, we see there were 51.84 million shares sold at short interest cover period of 4.52 days.
The consensus price target for the stock as assigned by Wall Street analysts is 5.75, meaning bulls need an upside of 45.39% from its recent market value. According to analyst projections, ACHR’s forecast low is 4 with 7.5 as the target high. To hit the forecast high, the stock’s price needs a -138.85% plunge from its current level, while the stock would need to soar -27.39% for it to hit the projected low.
Archer Aviation Inc (ACHR) estimates and forecasts
Data shows that the Archer Aviation Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -20.10% over the past 6 months, a 41.45% in annual growth rate that is considerably higher than the industry average of 11.10%.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of 330k. 3 analysts are of the opinion that Archer Aviation Inc’s revenue for the current quarter will be 2M.
The 2024 estimates are for Archer Aviation Inc earnings to increase by 27.44%, but the outlook for the next 5-year period is at -12.84% per year.
ACHR Dividends
Archer Aviation Inc is expected to release its next quarterly earnings report on 2024-Nov-07.
Archer Aviation Inc (NYSE:ACHR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 30.40% of Archer Aviation Inc shares while 39.28% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 56.44%. There are 39.28% institutions holding the Archer Aviation Inc stock share, with ARK INVESTMENT MANAGEMENT LLC the top institutional holder. As of 2024-06-30, the company held 7.9491% of the shares, roughly 25.46 million ACHR shares worth $89.61 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 6.1242% or 19.61 million shares worth $69.04 million as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were ARK ETF Tr-ARK Innovation ETF and iShares Russell 2000 ETF. With 14.45 shares estimated at $44.98 million under it, the former controlled 4.52% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.92% of the shares, roughly 6.13 shares worth around $19.09 million.
