Last Updated: 09 Nov 2024
Executive Summary
Archer Aviation Inc. (ACHR) is a manufacturer of electric vertical takeoff and landing (eVTOL) aircraft. The company is headquartered in Palo Alto, California and has a market capitalization of $1.42 billion. ACHR has yet to generate revenue and is currently in the development stage. The company has a strong balance sheet with $525 million in cash and equivalents. However, ACHR is also facing significant losses and its stock price has been volatile.
Company Overview
Archer Aviation was founded in 2018 by Brett Adcock and Adam Goldstein. The company's mission is to develop and manufacture eVTOL aircraft that can be used for urban air mobility. ACHR's aircraft are designed to be safe, efficient, and affordable. The company has partnered with United Airlines and Hyundai to develop and commercialize its aircraft.
Fundamental Analysis
ACHR is a pre-revenue company and therefore does not have any financial metrics to analyze. However, the company has a strong balance sheet with $525 million in cash and equivalents. This gives ACHR the financial flexibility to continue developing its aircraft and operations.
Technical Analysis
ACHR's stock price has been volatile since its IPO in September 2021. The stock reached a high of $7.01 in November 2021 but has since fallen to $3.89. The stock is currently trading below its 50-day and 200-day moving averages.
Short Term Outlook
The short-term outlook for ACHR is uncertain. The company is still in the development stage and has yet to generate revenue. The stock price is likely to remain volatile until the company can demonstrate progress in its development and commercialization efforts.
Long Term Outlook
The long-term outlook for ACHR is more positive. The company is addressing a large and growing market for urban air mobility. If ACHR can successfully develop and commercialize its aircraft, it could become a major player in this market.
Analyst Recommendations
Analysts are mixed on ACHR. Seven analysts have a buy rating on the stock, one has a hold rating, and none have a sell rating. The average analyst price target is $9.06.
