Archer Aviation Inc (NYSE: ACHR) stock jumped 0.96% on Friday to $6.32 against a previous-day closing price of $6.26. With 5.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.51 million shares. The 52-week range on ACHR shows that it touched its highest point at $7.49 and its lowest point at $1.62 during that stretch. It currently has a 1-year price target of $9.83. Beta for the stock currently stands at 2.64.
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 27.16%, but this was up by 23.44% over a month. Three-month performance dropped to -9.71% while six-month performance rose 94.46%. The stock gained 145.91% in the past year, while it has gained 237.97% so far this year. A look at the trailing 12-month EPS for ACHR yields -1.77 with Next year EPS estimates of -1.19. For the next quarter, that number is -0.32. This implies an EPS growth rate of -2.81% for this year and 12.40% for next year.
Float and Shares Shorts:
At present, 177.90 million ACHR shares are outstanding with a float of 168.21 million shares on hand for trading. On Oct 30, 2023, short shares totaled 40.98 million, which was 13.83% higher than short shares on Sep 28, 2023. In addition to ACHR as the firm’s Archer Aviation Inc., AEHR serves as its Aehr Test Systems.
Through their ownership of 38.41% of ACHR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 31.00% of ACHR, in contrast to 19.79% held by mutual funds. Shares owned by individuals account for 17.58%. As the largest shareholder in ACHR with 11.41% of the stake, ARK Investment Management LLC holds 23,790,372 shares worth 23,790,372. A second-largest stockholder of ACHR, SSgA Funds Management, Inc., holds 12,187,538 shares, controlling over 5.84% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ACHR, holding 12,038,906 shares or 5.77% stake. With a 6.51% stake in ACHR, the ARK Innovation ETF is the largest stakeholder. A total of 13,578,183 shares are owned by the mutual fund manager. The SPDR S&P Aerospace & Defense ETF, which owns about 4.78% of ACHR stock, is the second-largest Mutual Fund holder. It holds 9,976,985 shares valued at 47.39 million. ARK Autonomous Technology & Robot holds 3.73% of the stake in ACHR, owning 7,776,456 shares worth 36.94 million.
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 $7.00, the average target price over the next 12 months is $9.83. Based on these targets, ACHR could surge 89.87% to reach the target high and rise by 10.76% to reach the target low. Reaching the average price target will result in a growth of 55.54% from current levels.
Summary of Insider Activity:
Insiders traded ACHR stock several times over the past three months with 0 Buys and 5 Sells. In these transactions, 0 shares were bought while 122,823 shares were sold. The number of buy transactions has increased to 63 while that of sell transactions has risen to 72 over the past year. The total number of shares bought during that period was 13,014,937 while 8,523,591 shares were sold.