The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Archer Aviation Inc shares valued at $38,522 were purchased by Diaz Deborah on Nov 25 ’24. At $7.48 per share, Diaz Deborah acquired 5,150 shares. The insider’s holdings grew to 98,886 shares worth approximately $0.8 million following the completion of this transaction.
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Also, Goldstein Adam D purchased 19,762 shares, netting a total of over 101,181 in proceeds. Following the buying of shares at $5.12 each, the insider now holds 2,014,890 shares.
Before that, Goldstein Adam D had sold 1,372,247 shares from its account. In a trade valued at $6,852,864, the Chief Executive Officer traded Archer Aviation Inc shares for $4.99 each. Upon closing the transaction, the insider’s holdings decreased to 1,372,247 shares, worth approximately $22.83 million.
As published in their initiating research note from Needham on November 19, 2024, Archer Aviation Inc [ACHR] has been a Buy and the price target has been revised to $11. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of June 09, 2023, Canaccord Genuity has initiated its “Buy” rating for ACHR. Earlier on July 27, 2022, Raymond James initiated its rating. Their recommendation was “an Outperform” for ACHR stock.
Analyzing ACHR Stock Performance
During the last five days, there has been a surge of approximately 59.68%. Over the course of the year, Archer Aviation Inc shares have jumped approximately 31.60%. Shares of the company reached a 52-week high of $8.54 on 11/27/24 and a 52-week low of $2.82 on 09/26/24. A 50-day SMA is recorded $3.75, while a 200-day SMA reached $3.96. Nevertheless, trading volume fell to 62.31 million shares from 79.72 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 7.51, which, if violated, would cause prices to drop to 6.93. In the upper region, resistance lies at 8.60. The next price resistance is at 9.11. RSI (Relative Strength Index) is 84.71 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.24, which suggests the price will increase in the coming days. Percent R is at 9.11%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
