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Archer Aviation Inc Insider Trading: What Did We Learn?

Archer Aviation Inc (NYSE:ACHR) price is hovering lower on Tuesday, November 21, dropping -4.33% below its previous close.

A look at today’s price movement shows that the recent level at last check reads $6.24, with intraday deals fluctuating between $6.13 and $6.65. The company’s 5Y monthly beta was ticking 2.54. Taking into account the 52-week price action we note that the stock hit a 52-week high of $7.49 and 52-week low of $1.62. The stock added 23.86% on its value in the past month.

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Archer Aviation Inc, which has a market valuation of $1.80 billion, is expected to release its quarterly earnings report Nov 09, 2023. Analysts tracking ACHR have forecast the quarterly EPS to shrink by -0.29 per share this quarter, while the same analysts predict the annual EPS to hit -$1.13 for the year 2023 and up to -$0.98 for 2024. In this case, analysts estimate an annual EPS growth of -16.50% for the year and 13.30% for the next year.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give ACHR a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.

The overview shows that ACHR’s price is at present 12.65% off the SMA20 and 11.83% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 58.22, with weekly volatility standing at 7.27%. The indicator jumps to 7.20% when calculated based on the past 30 days. Archer Aviation Inc (NYSE:ACHR)’s beta value is holding at 2.62, while the average true range (ATR) indicator is currently reading 0.40. Considering analysts have assigned the stock a price target range of $7.00-$12.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $9.83. Based on this estimate, we see that today’s price at last check is roughly -17.25% off the estimated low and -101.01% off the forecast high. Investors will no doubt be excited to see the share price fall to $9.50, which is the median consensus price, and at that level ACHR would be -59.13% from recent price.

An analysis of the Archer Aviation Inc (NYSE:ACHR) stock in terms of its daily trading volume indicates that the 3-month average is 7.24 million. However, this figure increases on the past 10-day timeline to an average of 6.63 million.

Current records show that the company has 177.90M in outstanding shares. The insiders’ percentage holdings are 44.07% of outstanding shares while the percentage share held by institutions stands at 34.73%. The stats also highlight that short interest as of Oct 30, 2023, stood at 40.98 million shares, which puts the short ratio at the time at 10.01. From this we can glean that short interest is 13.83% of company’s current outstanding shares. Notably, we see that shares short in October rose slightly given the previous month’s figure stood at 37.81 million. But the 219.25% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.