Archer Aviation Inc (ACHR) rating initates by Canaccord Genuity

Archer Aviation Inc’s filing revealed that its 10% Owner Lore Marc E. unloaded Company’s shares for reported $0.94 million on Jan 02. In the deal valued at $5.90 per share,160,000 shares were sold. As a result of this transaction, Lore Marc E. now holds 27,926,358 shares worth roughly $144.38 million.

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Then, Perkins Tosha sold 20,000 shares, generating $135,484 in total proceeds. Upon selling the shares at $6.77, the Chief People Officer now owns 212,014 shares.

Before that, MISSAN ANDY sold 12,500 shares. Archer Aviation Inc shares valued at $79,875 were divested by the Chief Legal Off. & Secretary at a price of $6.39 per share. As a result of the transaction, MISSAN ANDY now holds 281,562 shares, worth roughly $1.46 million.

Canaccord Genuity initiated its Archer Aviation Inc [ACHR] rating to a Buy in a research note published On Monday, June 09, 2023; the price target was $9.

Price Performance Review of ACHR

On Monday, Archer Aviation Inc [NYSE:ACHR] saw its stock jump 5.51% to $5.17. Over the last five days, the stock has lost -2.64%. Archer Aviation Inc shares have fallen nearly -15.80% since the year began. Nevertheless, the stocks have risen 101.95% over the past one year. While a 52-week high of $7.49 was reached on 01/02/24, a 52-week low of $1.77 was recorded on 01/17/24. SMA at 50 days reached $5.93, while 200 days put it at $4.88. A total of 3.87 million shares were traded, compared to the trading of 3.67 million shares in the previous session.

Levels Of Support And Resistance For ACHR Stock

The 24-hour chart illustrates a support level at 4.97, which if violated will result in even more drops to 4.78. On the upside, there is a resistance level at 5.29. A further resistance level may holdings at 5.42. The Relative Strength Index (RSI) on the 14-day chart is 42.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.02%. Stochastics %K at 19.09% indicates the stock is a buying.

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 11, 2024, dropping by -0.21 million shares to a total of 39.27 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 39.48 million shares. There was a decline of -0.53%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 17.64% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.77.

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

In filings from ARK Investment Management LLC, it is revealed that the company now owns 24,907,280 shares, or roughly 9.80% of the outstanding ACHR shares. In other words, the investor’s shares have risen by 1,116,908 from its previous 13-F filing of 23790372.0. Additionally, SSgA Funds Management, Inc. increased 21.41% of its stake after which the total value it holdings stand at $90,849,417, while BlackRock Fund Advisors added 2.05% of its stake to hold $73.92 million in the firm. Over the last quarter, Nikko Asset Management Americas, purchased 4,154,340 shares of Archer Aviation Inc, while The Vanguard Group, Inc. bought 1,300,069 shares. At present, Alpine Global Management LLC is holding 3,137,169 shares valued at $19.26 million. Geode Capital Management LLC owned 3,072,957 shares of the company at the time of its most recent 13F filing, worth $18.87 million.

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