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 $2,784,870 were sold by Spellacy Michael on Dec 18 ’24. At $10.00 per share, Spellacy Michael sold 278,487 shares. The insider’s holdings dropped to 1,162,183 shares worth approximately $11.33 million following the completion of this transaction.
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Also, Spellacy Michael sold 191,513 shares, netting a total of over 1,915,130 in proceeds. Following the sale of shares at $10.00 each, the insider now holds 0 shares.
Before that, Muniz Thomas Paul had sold 50,000 shares from its account. In a trade valued at $450,000, the CHIEF TECHNOLOGY OFFICER traded Archer Aviation Inc shares for $9.00 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $10.92 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 3.94%. Over the course of the year, Archer Aviation Inc shares have jumped approximately 58.79%. Shares of the company reached a 52-week high of $11.69 on 12/27/24 and a 52-week low of $2.82 on 09/26/24. A 50-day SMA is recorded $6.25, while a 200-day SMA reached $4.39. Nevertheless, trading volume fell to 31.04 million shares from 36.24 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 9.41, which, if violated, would cause prices to drop to 9.06. In the upper region, resistance lies at 10.26. The next price resistance is at 10.76. RSI (Relative Strength Index) is 59.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.02, which suggests the price will increase in the coming days. Percent R is at 40.08%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
