Archer Aviation Inc. (NYSE: ACHR) stock fell -3.18% on Wednesday to $3.04 against a previous-day closing price of $3.14. With 2.33 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.94 million shares. During the session, the Aerospace & Defense company that operates in wider Industrials sector, reached to the highest price of $3.1750 whereas the lowest price it dropped to was $2.9900. The 52-week range on ACHR shows that it touched its highest point at $5.16 and its lowest point at $1.62 during that stretch. It currently has a 1-year price target of $7.70.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACHR was up-trending over the past week, with a rise of 3.75%, but this was up by 66.12% over a month. Three-month performance surged to 6.29% while six-month performance rose 28.27%. The stock lost -13.14% in the past year, while it has gained 62.57% so far this year. A look at the trailing 12-month EPS for ACHR yields -1.31 with Next year EPS estimates of -0.99. For the next quarter, that number is -0.32. This implies an EPS growth rate of 10.20% for this year and 21.40% for next year.
Float and Shares Shorts:
At present, 247.45 million ACHR shares are outstanding with a float of 129.95 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.46 million, which was 5.04% higher than short shares on Mar 30, 2023. In addition to AEHR as the firm’s Aehr Test Systems, ACHV serves as its Achieve Life Sciences, Inc.
Through their ownership of 39.16% of ACHR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 20.89% of ACHR, in contrast to 17.77% held by mutual funds. Shares owned by individuals account for 17.30%. As the largest shareholder in ACHR with 6.02% of the stake, BlackRock Fund Advisors holds 11,113,827 shares worth 11,113,827. A second-largest stockholder of ACHR, ARK Investment Management LLC, holds 8,803,120 shares, controlling over 4.77% of the firm’s shares. Nikko Asset Management Americas, is the third largest shareholder in ACHR, holding 7,141,005 shares or 3.87% stake. With a 3.72% stake in ACHR, the ARK Autonomous Technology & Robot is the largest stakeholder. A total of 6,872,150 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.03% of ACHR stock, is the second-largest Mutual Fund holder. It holds 3,745,126 shares valued at 7.42 million. Invesco WilderHill Clean Energy E holds 2.00% of the stake in ACHR, owning 3,690,944 shares worth 7.31 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ACHR reported revenue of $0.00 and operating income of -$80.20M. The EBITDA in the recently reported quarter was -$79.50M and diluted EPS was -$0.30.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACHR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACHR analysts setting a high price target of $12.00 and a low target of $5.00, the average target price over the next 12 months is $9.40. Based on these targets, ACHR could surge 294.74% to reach the target high and rise by 64.47% to reach the target low. Reaching the average price target will result in a growth of 209.21% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACHR stock several times over the past three months with 4 Buys and 4 Sells. In these transactions, 436,849 shares were bought while 151,709 shares were sold. The number of buy transactions has increased to 58 while that of sell transactions has risen to 56 over the past year. The total number of shares bought during that period was 8,378,576 while 7,786,585 shares were sold.