In yesterday’s Wall Street session, Archer Aviation Inc (NYSE:ACHR) shares traded at $5.05, unchanged from the previous session.
ACHR stock price is now 38.17% away from the 50-day moving average and 5.64% away from the 200-day moving average. The market capitalization of the company currently stands at $1.72B.
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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 17,401,153 shares of the company’s stock on Jul 01 ’24. The stock was bought for $54,999,824 at an average price of $3.16. Upon completion of the transaction, the 10% Owner now directly owns 56,752,873 shares in the company, valued at $286.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 15 ’24, 10% Owner Stellantis N.V. bought 750,000 shares of the business’s stock. A total of $3,894,053 was incurred on buying the stock at an average price of $5.19. This leaves the insider owning 39,351,720 shares of the company worth $198.73 million. A total of 40.57% of the company’s stock is owned by insiders.
During the past 12 months, Archer Aviation Inc has had a low of $3.00 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. The fifty day moving average price for ACHR is $3.655 and a two-hundred day moving average price translates $4.78035 for the stock.
The latest earnings results from Archer Aviation Inc (NYSE: ACHR) was released for 2024-03-31. 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.
