Potential Price Increase for Archer Aviation Inc. (ACHR) After Recent Insider Activity


In a filing, Archer Aviation Inc. revealed its Chief Operating Officer Muniz Thomas Paul unloaded Company’s shares for reported $0.61 million on Aug 21. In the deal valued at $7.20 per share,85,000 shares were sold. As a result of this transaction, Muniz Thomas Paul now holds 1,173,102 shares worth roughly $ 7.58 million.

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Then, MISSAN ANDY sold 12,500 shares, generating $77,625 in total proceeds. Upon selling the shares at $6.21, the Chief Legal Off. & Secretary now owns 251,384 shares.

Before that, Muniz Thomas Paul sold 125,000 shares. Archer Aviation Inc. shares valued at $562,500 were divested by the Chief Operating Officer at a price of $4.50 per share. As a result of the transaction, Muniz Thomas Paul now holds 1,245,333 shares, worth roughly $8.04 million.

Canaccord Genuity initiated its Archer Aviation Inc. [ACHR] rating to a Buy in a research note published on Friday, June 09, 2023; the price target was $9. PT values the company’s stock at a premium of 28.22 to its Friday closing price.

Price Performance Review of ACHR

On Friday, Archer Aviation Inc. [NYSE:ACHR] saw its stock fall -7.32% to $6.46. On the same session, the stock had its day’s lowest price of $6.42, but rose to a high of $7.12. Over the last five days, the stock has gained 11.76%. Archer Aviation Inc. shares have risen nearly 245.45% since the year began. Nevertheless, the stocks have risen 82.49% over the past one year. While a 52-week high of $7.49 was reached on 08/23/23, a 52-week low of $1.62 was recorded on 04/25/23. SMA at 50 days reached $5.42, while 200 days put it at $3.31. A total of 9.74 million shares were traded, compared to the trading of 12.6 million shares in the previous session.

Levels Of Support And Resistance For ACHR Stock

The 24-hour chart illustrates a support level at 6.21, which if violated will result in even more drops to 5.97. On the upside, there is a resistance level at 6.91. A further resistance level may holdings at 7.37. The Relative Strength Index (RSI) on the 14-day chart is 53.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.86%. Stochastics %K at 63.51% 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 Aug 14, 2023, growing by 9.94 million shares to a total of 24.58 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 14.64 million shares. There was a rise of 40.44%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 13.89% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.59.

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

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,797,443 shares, or roughly 6.38% of the outstanding ACHR shares. In other words, the investor’s shares have risen by 683,616 from its previous 13-F filing of 11113827.0. Additionally, ARK Investment Management LLC increased 4.11% of its stake after which the total value it holdings stand at $61,678,545, while Nikko Asset Management Americas, added 6.43% of its stake to hold $51.15 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 357,875 shares of Archer Aviation Inc., while SSgA Funds Management, Inc. bought 816,818 shares. At present, Alpine Global Management LLC is holding 3,137,169 shares valued at $21.11 million. Geode Capital Management LLC owned 2,952,378 shares of the company at the time of its most recent 13F filing, worth $19.87 million.

According to FactSet, Archer Aviation Inc.’s share price will average $9.21 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.12 percent from its previous closing price of $6.97. Analysts expect Archer Aviation Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $4.50. However, 7 analysts have rated ACHR stock as a Buy in their predictions for 2023.


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