Checking in on Archer Aviation Inc. (ACHR) after recent insiders movement


Archer Aviation Inc.’s filing revealed that its 10% Owner Adcock Brett unloaded Company’s shares for reported $0.38 million on Jan 27. In the deal valued at $2.66 per share,142,209 shares were sold. As a result of this transaction, Adcock Brett now holds 0 shares worth roughly $ 0.0.

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Then, Adcock Brett sold 200,000 shares, generating $514,060 in total proceeds. Upon selling the shares at $2.57, the 10% Owner now owns 0 shares.

Before that, Adcock Brett sold 132,018 shares. Archer Aviation Inc. shares valued at $373,241 were divested by the 10% Owner at a price of $2.83 per share. As a result of the transaction, Adcock Brett now holds 0 shares, worth roughly $0.0.

Raymond James initiated its Archer Aviation Inc. [ACHR] rating to an Outperform in a research note published on Friday, July 27, 2022; the price target was $8. PT values the company’s stock at a premium of 66.0 to its Friday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in late April with a ‘”an Overweight”‘ rating. Deutsche Bank began covering ACHR with “Buy” recommendation on April 11, 2022. Cantor Fitzgerald started covering the stock on November 30, 2021. It rated ACHR as “an Overweight”.

Price Performance Review of ACHR

On Friday, Archer Aviation Inc. [NYSE:ACHR] saw its stock fall -4.90% to $2.72. On the same session, the stock had its day’s lowest price of $2.68, but rose to a high of $2.84. Over the last five days, the stock has lost -1.45%. Archer Aviation Inc. shares have risen nearly 45.45% since the year began. Nevertheless, the stocks have fallen -3.20% over the past one year. While a 52-week high of $5.24 was reached on 02/02/23, a 52-week low of $1.62 was recorded on 01/03/23. SMA at 50 days reached $2.47, while 200 days put it at $3.10. A total of 1.24 million shares were traded, compared to the trading of 1.21 million shares in the previous session.

Levels Of Support And Resistance For ACHR Stock

The 24-hour chart illustrates a support level at 2.65, which if violated will result in even more drops to 2.59. On the upside, there is a resistance level at 2.81. A further resistance level may holdings at 2.91. The Relative Strength Index (RSI) on the 14-day chart is 50.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 60.53%. Stochastics %K at 38.20% indicates the stock is a holding.

How much short interest is there in Archer Aviation Inc.?

A steep rise in short interest was recorded in Archer Aviation Inc. stocks on Jan 30, 2023, growing by 1.73 million shares to a total of 12.18 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 10.45 million shares. There was a rise of 14.2%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.03% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.42.

Archer Aviation Inc. [ACHR] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 10,631,128 shares, or roughly 5.98% of the outstanding ACHR shares. In other words, the investor’s shares have risen by 1,636,362 from its previous 13-F filing of 8994766.0. Additionally, ARK Investment Management LLC decreased -6.09% of its stake after which the total value it holdings stand at $25,882,158, while SSgA Funds Management, Inc. reduced -15.29% of its stake to hold $18.7 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 151,064 shares of Archer Aviation Inc., while Invesco Capital Management LLC bought 873,739 shares. At present, Nikko Asset Management Americas, is holding 5,083,104 shares valued at $14.74 million. Alpine Global Management LLC owned 3,137,169 shares of the company at the time of its most recent 13F filing, worth $9.1 million.

According to FactSet, Archer Aviation Inc.’s share price will average $8.42 in the next year, based on opinions of analysts polled by the firm. This is up nearly 214.69 percent from its previous closing price of $2.86. Analysts expect Archer Aviation Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $3.50. However, 6 analysts have rated ACHR stock as an Overweight in their predictions for 2023.


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