Street Calls of the Week
Archer Aviation Inc. has reached a significant milestone with its stock hitting a 52-week high of $13.93, with strong momentum continuing as shares trade at $14.12. This marks a notable achievement for the company, reflecting a remarkable 318.65% increase over the past year. According to InvestingPro data, the stock has shown impressive gains across multiple timeframes, including an 82.87% surge in the last six months. The surge in stock price underscores growing investor confidence and interest in Archer Aviation’s prospects. The company’s innovative approach and strategic developments in the aviation sector have contributed to this upward momentum, with a strong financial position marked by a healthy current ratio of 22.3 and more cash than debt on its balance sheet. While current InvestingPro analysis suggests the stock is trading above its Fair Value, investors can access 12 additional exclusive ProTips and a comprehensive Pro Research Report to make informed investment decisions.
In other recent news, Archer Aviation Inc. has acquired Lilium GmbH’s portfolio of approximately 300 advanced air mobility patent assets for €18 million. This acquisition enhances Archer’s patent portfolio, which now totals over 1,000 worldwide, and includes innovations in high-voltage systems, battery management, and aircraft design. Additionally, Archer is partnering with Cleveland Clinic Abu Dhabi to develop the United Arab Emirates’ first hospital-based vertiport, upgrading the hospital’s helipad to accommodate eVTOL aircraft. Archer’s Midnight eVTOL aircraft achieved a significant milestone by reaching an altitude of 7,000 feet during a test flight in Salinas, California. This test is part of Archer’s ongoing envelope expansion testing program. On the financial front, Cantor Fitzgerald has reiterated its Overweight rating on Archer Aviation with a price target of $13.00, following these recent developments and the successful Midnight test flight. The firm maintains a positive outlook on Archer’s participation in a program to test its Midnight aircraft in select cities.
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