In yesterday’s Wall Street session, Archer Aviation Inc (NYSE:ACHR) shares traded at $9.70, up 9.98% from the previous session.
ACHR stock price is now 24.37% away from the 50-day moving average and 107.11% away from the 200-day moving average. The market capitalization of the company currently stands at $4.13B.
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With the price target enhanced from $6 to $9, JP Morgan Downgraded its rating from Overweight to Neutral for Archer Aviation Inc (NYSE: ACHR). On November 19, 2024, Needham recently initiated its ‘Buy’ rating on the stock quoting a target price of $11, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, Muniz Thomas Paul, CHIEF TECHNOLOGY OFFICER sold 50,000 shares of the company’s stock on Jan 07 ’25. The stock was sold for $600,000 at an average price of $12.00. Upon completion of the transaction, the CHIEF TECHNOLOGY OFFICER now directly owns 1,070,360 shares in the company, valued at $10.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 07 ’25, Officer Muniz Thomas Paul bought 50,000 shares of the business’s stock. A total of $600,000 was incurred on buying the stock at an average price of $12.00. A total of 39.81% of the company’s stock is owned by insiders.
During the past 12 months, Archer Aviation Inc has had a low of $2.82 and a high of $12.48. As of last week, the company has a debt-to-equity ratio of 0.17, a current ratio of 6.03, and a quick ratio of 6.03. The fifty day moving average price for ACHR is $7.67 and a two-hundred day moving average price translates $4.6571 for the stock.
The latest earnings results from Archer Aviation Inc (NYSE: ACHR) was released for 2024-09-30. The company reported revenue of $122.1 million for the quarter, compared to $46.2 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 164.29 percent.
