The stock of Archer Aviation Inc (NYSE:ACHR) last traded at $4.00, up 6.67% from the previous session.
ACHR stock price is now -6.90% away from the 50-day moving average and -24.82% away from the 200-day moving average. The market capitalization of the company currently stands at $1.29B.
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With the price target of $9, Canaccord Genuity recently initiated with Buy rating for Archer Aviation Inc (NYSE: ACHR). On July 27, 2022, Raymond James recently initiated its ‘Outperform’ rating on the stock quoting a target price of $8, while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Stellantis N.V., 10% Owner bought 750,000 shares of the company’s stock on Mar 15 ’24. The stock was bought for $3,894,053 at an average price of $5.19. Upon completion of the transaction, the 10% Owner now directly owns 39,351,720 shares in the company, valued at $157.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, 10% Owner Stellantis N.V. bought 750,000 shares of the business’s stock. A total of $3,743,249 was incurred on buying the stock at an average price of $4.99. This leaves the insider owning 38,601,720 shares of the company worth $154.41 million. A total of 36.59% of the company’s stock is owned by insiders.
During the past 12 months, Archer Aviation Inc has had a low of $2.10 and a high of $7.49. As of last week, the company has a debt-to-equity ratio of 0.09, a current ratio of 6.01, and a quick ratio of 6.01.
According to the Aerospace & Defense Company, earnings per share came in at -0.73, missing analysts’ expectations of -0.32 by -0.41. This compares to -$0.46 EPS in the same period last year. The company reported revenue of $142.2 million for the quarter, compared to $112.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.96 percent. For the current quarter, analysts expect ACHR to generate $500k in revenue.
