Archer Aviation Inc’s recently made public that its 10% Owner Stellantis N.V. acquired Company’s shares for reported $3.89 million on Mar 15 ’24. In the deal valued at $5.19 per share,750,000 shares were bought. As a result of this transaction, Stellantis N.V. now holds 39,351,720 shares worth roughly $169.21 million.
Then, Stellantis N.V. bought 750,000 shares, generating $3,743,249 in total proceeds. Upon buying the shares at $4.99, the 10% Owner now owns 38,601,720 shares.
Before that, Stellantis N.V. bought 800,000 shares. Archer Aviation Inc shares valued at $4,286,000 were divested by the 10% Owner at a price of $5.36 per share. As a result of the transaction, Stellantis N.V. now holds 37,851,720 shares, worth roughly $162.76 million.
Canaccord Genuity initiated its Archer Aviation Inc [ACHR] rating to a Buy in a research note published on June 09, 2023; the price target was $9. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in late July with a ‘”an Outperform”‘ rating. JP Morgan began covering ACHR with “an Overweight” recommendation on April 28, 2022. Deutsche Bank started covering the stock on April 11, 2022. It rated ACHR as “a Buy”.
Price Performance Review of ACHR
On Friday, Archer Aviation Inc [NYSE:ACHR] saw its stock unchanged to $4.30. Over the last five days, the stock has lost -6.93%. Archer Aviation Inc shares have fallen nearly -29.97% since the year began. Nevertheless, the stocks have risen 58.67% 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 03/07/24. SMA at 50 days reached $4.86, while 200 days put it at $5.38. A total of 2.69 million shares were traded, compared to the trading of 3.57 million shares in the previous session.
Levels Of Support And Resistance For ACHR Stock
The 24-hour chart illustrates a support level at 4.20, which if violated will result in even more drops to 4.10. On the upside, there is a resistance level at 4.41. A further resistance level may holdings at 4.52. The Relative Strength Index (RSI) on the 14-day chart is 37.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.82%. Stochastics %K at 7.87% 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 Mar 15, 2024, growing by 10.99 million shares to a total of 49.21 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 38.22 million shares. There was a rise of 22.33%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.44% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.39.
The most recent change occurred on November 30, 2021 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $14 price target.
