Streetbeat News

ACHR

Archer Aviation Inc.

https://www.archer.com

Industry

Aerospace & Defense

Archer Aviation Inc., an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc. Archer Aviation Inc. was incorporated in 2018 and is headquartered in Palo Alto, California.

Open

3.40

Mkt cap

1.2B

Volume

28M

High

3.65

P/E Ratio

-2.97

52-wk high

7.01

Low

3.35

Div yield

N/A

52-wk low

2.82

Insider trades were noted in Archer Aviation Inc. (ACHR), Asana, Inc. (ASAN), and John Wiley & Sons, Inc. (WLY). ACHR's 10% owner SFS UK 1 LTD. acquired 12,313,234 shares at an average price of $5.68, costing around $70 million. ASAN's President, CEO and Chair Dustin Moskovitz acquired 280,000 shares at an average price of $18.67, costing around $5.23 million. WLY's Director David Dobson bought 5,081 shares at an average price of $29.99, costing around $152,357.

Portfolio Pulse from Lisa Levin

October 19, 2023 | 10:55 am

Archer Aviation Inc (ACHR) has entered into an agreement with the Abu Dhabi Investment Office (ADIO) to launch its all-electric air taxi service across the UAE. Archer plans to commence operations in Abu Dhabi in 2026 and will establish its first international headquarters and manufacturing facilities in the city. The company will work with its global manufacturing partner Stellantis N.V. (STLA) and local partners in the UAE to build its aircraft manufacturing capabilities. ACHR shares are trading higher by 2.45% at $5.24.

Portfolio Pulse from Shivani Kumaresan

October 16, 2023 | 4:40 pm

Archer Aviation Inc. (ACHR) and Abu Dhabi Investment Office (ADIO) have announced a plan to launch Archer's all-electric air taxi service across the UAE. The service is expected to start in 2026. ADIO will support Archer's launch through incentives. Archer will also build an engineering Center of Excellence to support the advanced air mobility industry in the UAE and the Middle East. Archer has raised over $1.1 billion of funding to date, including investments from Mubadala Capital, United Airlines, Stellantis, and Boeing.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 1:04 pm

Ark Invest, led by Cathie Wood, made significant purchases of shares in Block Inc, Archer Aviation, and CRISPR Therapeutics on Monday. The fund also bolstered its positions in Pacific Biosciences of California, Ginkgo Bioworks Holdings, and Markforged Holding Corp. The purchases were made through various Ark ETFs, including ARK Innovation ETF, ARK Next Generation Internet ETF, ARK Autonomous Technology & Robotics ETF, and ARK Genomic Revolution ETF.

Portfolio Pulse from Benzinga Neuro

October 10, 2023 | 2:45 am

Several industrial stocks experienced significant movement in Monday's after-market session. Notable gainers included Ultralife (ULBI), noco-noco (NCNC), Advent Technologies Hldgs (ADN), Mesa Air Gr (MESA), Redwire (RDW), and Astra Space (ASTR). On the other hand, Sarcos Technology (STRC), ESS Tech (GWH), AERWINS Technologies (AWIN), Matrix Service (MTRX), Archer Aviation (ACHR), and LanzaTech Global (LNZA) saw declines.

Portfolio Pulse from Benzinga Insights

October 09, 2023 | 9:31 pm

Ark Invest, led by Cathie Wood, has made significant trades, selling shares of Shopify Inc (SHOP) and Nvidia Corp (NVDA), and buying Spotify Technology SA (SPOT) shares. The firm also bought shares of Archer Aviation Inc (ACHR) and Beam Therapeutics Inc (BEAM). These moves reflect recent market dynamics and strategic shifts in Ark's investment approach.

Portfolio Pulse from Benzinga Neuro

September 06, 2023 | 2:27 am

Ark Invest CEO Cathie Wood reaffirmed her $2,000 price target for Tesla Inc (NASDAQ:TSLA) by 2027, hinting at a potential future increase. Wood's confidence in Tesla's autonomous technology has grown, and she is impressed with the company's software upgrades. Despite Ark's bullish stance on Tesla, the firm has sold some Tesla shares to take profits and move funds to other companies, such as Archer Aviation (NYSE:ACHR). Wood also compared Tesla's decision to design its own chip for autonomous driving to Apple Inc's (NASDAQ:AAPL) strategy.

Portfolio Pulse from Chris Katje

September 05, 2023 | 3:15 pm

In an interview with Benzinga’s CEO, Ark Invest founder Cathie Wood expressed optimism about the electric vertical takeoff and landing (eVTOL) industry, particularly air taxis. She highlighted Ark's $50 million position in Archer Aviation Inc (ACHR), a leader in the eVTOL space. Wood also mentioned Archer's recent patent lawsuit settlement with Boeing (BA) and its partnership with Stellantis NV (STLA).

Portfolio Pulse from AJ Fabino

September 03, 2023 | 12:44 pm

Archer Aviation's (NYSE:ACHR) short percent of float has risen 38.07% since its last report, with 24.58 million shares sold short, which is 13.89% of all regular shares available for trading. It would take traders 2.23 days to cover their short positions on average. The company's short interest is higher than its peer group average of 5.29%.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:15 pm

Ark Invest, led by Cathie Wood, has purchased nearly $3.9 million worth of shares in Archer Aviation Inc (NASDAQ:ACHR), demonstrating a bullish stance on the flying car company. The purchases were made through ARK Innovation ETF (NYSE:ARKK), ARK Autonomous Technology & Robotics ETF (BATS:ARKQ), and ARK Space Exploration & Innovation ETF (BATS:ARKX). Archer Aviation recently secured a $215 million equity investment from industry leaders including Boeing Co (NYSE:BA), Stellantis N.V. (NYSE:STLA), and United Airlines (NASDAQ:UAL).

Portfolio Pulse from Benzinga Neuro

August 29, 2023 | 2:25 am

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