Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Archer Aviation Inc shares valued at $3,894,053 were purchased by Stellantis N.V. on Mar 15 ’24. At $5.19 per share, Stellantis N.V. acquired 750,000 shares. The insider’s holdings grew to 39,351,720 shares worth approximately $148.75 million following the completion of this transaction.
Also, Stellantis N.V. purchased 750,000 shares, netting a total of over 3,743,249 in proceeds. Following the buying of shares at $4.99 each, the insider now holds 38,601,720 shares.
Before that, Stellantis N.V. had added 800,000 shares to its account. In a trade valued at $4,286,000, the 10% Owner bought Archer Aviation Inc shares for $5.36 each. Upon closing the transaction, the insider’s holdings increased to 800,000 shares, worth approximately $143.08 million.
As published in their initiating research note from Canaccord Genuity on June 09, 2023, Archer Aviation Inc [ACHR] has been a Buy and the price target has been revised to $9. Analysts at Raymond James started covering the stock with ‘”an Outperform”‘ outlook in a report released in late July. As of April 28, 2022, JP Morgan has initiated its “an Overweight” rating for ACHR. Earlier on April 11, 2022, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for ACHR stock.
Analyzing ACHR Stock Performance
During the last five days, there has been a drop of approximately -9.13%. Over the course of the year, Archer Aviation Inc shares have dropped approximately -38.44%. Shares of the company reached a 52-week high of $6.05 on 01/02/24 and a 52-week low of $3.78 on 04/17/24. A 50-day SMA is recorded $4.72, while a 200-day SMA reached $5.40. Nevertheless, trading volume fell to 3.26 million shares from 3.07 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 3.73, which, if violated, would cause prices to drop to 3.67. In the upper region, resistance lies at 3.89. The next price resistance is at 3.99. RSI (Relative Strength Index) is 27.09 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
