Archer Aviation Inc. [ACHR] 10% Owner makes an insider sale of 27,370 shares worth 85,074.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Archer Aviation Inc. shares valued at $85,074 were sold by Adcock Brett on Sep 20. At $3.11 per share, Adcock Brett sold 27,370 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.


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Also, Adcock Brett sold 140,000 shares, netting a total of over 420,602 in proceeds. Following the sale of shares at $3.00 each, the insider now holds 0 shares.

Before that, Adcock Brett had sold 125,000 shares from its account. In a trade valued at $405,088, the 10% Owner traded Archer Aviation Inc. shares for $3.24 each. Upon closing the transaction, the insider’s holdings decreased to 125,000 shares, worth approximately $0.0.

As published in their initiating research note from Raymond James on July 27, 2022, Archer Aviation Inc. [ACHR] has been an Outperform and the price target has been revised to $8. This represents a 63.87% premium over Thursday’s closing price. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in late April. As of April 11, 2022, Deutsche Bank has initiated its “Buy” rating for ACHR. Earlier on November 30, 2021, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for ACHR stock.

Analyzing ACHR’s Price Performance

On Thursday, Archer Aviation Inc. [NYSE: ACHR] plunged -3.34% to $2.89. The stock’s lowest price that day was $2.85, but it reached a high of $3.015 in the same session. During the last five days, there has been a drop of approximately -8.83%. Over the course of the year, Archer Aviation Inc. shares have dropped approximately -52.15%. Shares of the company reached a 52-week high of $6.35 on 01/03/22 and a 52-week low of $2.61 on 02/24/22. A 50-day SMA is recorded $3.68, while a 200-day SMA reached $4.03. Nevertheless, trading volume fell to 1.54 million shares from 1.11 million shares the previous day.

Support And Resistance Levels for Archer Aviation Inc. (ACHR)

According to the 24-hour chart, there is a support level at 2.82, which, if violated, would cause prices to drop to 2.75. In the upper region, resistance lies at 2.99. The next price resistance is at 3.08. RSI (Relative Strength Index) is 27.81 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 94.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Archer Aviation Inc. subject to short interest?

Stocks of Archer Aviation Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.67 million shares to 13.67 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 10.0 million shares. A jump of 26.85% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.81 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.81.

Which companies own the most shares of Archer Aviation Inc. (ACHR)?

According to ARK Investment Management LLC filings, the company currently owns 10,173,526 shares, which is about 5.83% of the total ACHR shares outstanding. The investor’s shares have plunged by -747,396 from its previous 13-F filing of 10920922.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $31,841,472. SSgA Funds Management, Inc. acquire a 1,667.69% interest valued at $24.65 million while The Vanguard Group, Inc. purchased a 2,958,900 stake. A total of 50,040 shares of Archer Aviation Inc. were bought by Nikko Asset Management Americas, during the quarter, and 0 by Capital Research & Management Co. In its current portfolio, Invesco Capital Management LLC holds 3,701,561 shares valued at $13.1 million.

In terms of Archer Aviation Inc. share price expectations, FactSet research, analysts set an average price target of $8.83 in the next 12 months, up nearly 201.0% from the previous closing price of $2.99. Analysts anticipate Archer Aviation Inc. stock to reach $12.00 by 2022, with the lowest price target being $4.00. In spite of this, 6 analysts ranked Archer Aviation Inc. stock as an Overweight at the end of 2022.

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