Reviewing The Case For Archer Aviation Inc (ACHR) Going Higher

Currently, there are 265.62M common shares owned by the public and among those 190.73M shares have been available to trade.

However, the script later moved the day high at 4.4500, down -3.78%. The company’s stock has a 5-day price change of -12.53% and -29.48% over the past three months. ACHR shares are trading -29.48% year to date (YTD), with the 12-month market performance up to 57.45% higher. It has a 12-month low price of $1.77 and touched a high of $7.49 over the same period. ACHR has an average intraday trading volume of 5.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.90%, -12.14%, and -19.53% respectively.

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Institutional ownership of Archer Aviation Inc (NYSE: ACHR) shares accounts for 37.41% of the company’s 265.62M shares outstanding.

It has a market capitalization of $1.34B and a beta (3y monthly) value of 2.43. The earnings-per-share (ttm) stands at -$1.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.47% over the week and 6.90% over the month.

Analysts forecast that Archer Aviation Inc (ACHR) will achieve an EPS of -$0.33 for the current quarter, -$0.35 for the next quarter and -$1.22 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.28. Comparatively, EPS for the current quarter was -$0.46 a year ago. Earnings per share for the fiscal year are expected to decrease by -2.47%, and 18.62% over the next financial year.

Looking at the support for the ACHR, a number of firms have released research notes about the stock. Canaccord Genuity stated their Buy rating for the stock in a research note on June 09, 2023, with the firm’s price target at $9. Raymond James coverage for the Archer Aviation Inc (ACHR) stock in a research note released on July 27, 2022 offered a Outperform rating with a price target of $8. JP Morgan was of a view on April 28, 2022 that the stock is Overweight, while Deutsche Bank gave the stock Buy rating on April 11, 2022, issuing a price target of $10. Cantor Fitzgerald on their part issued Overweight rating on November 30, 2021.

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