Archer Aviation Inc. (NYSE:ACHR) has just flown into a technical milestone — its 50-day simple moving average has crossed above its 200-day moving average, forming a Golden Cross. This technical signal,

Needham gave the stock a buy rating and a price target of $11, noting that industry momentum had reached a tipping point. Analyst Chris Pierce also said its $6 billion order book thanks to customers like United Airlines gave it confidence in the stock, and it saw a path to $3 billion in annual revenue.

The Archer Aviation stock price has dived in the past few days. We explain whether the ACHR share price will rebound

Archer Aviation’s Georgia facility and regulatory approvals may fuel future growth. See why ACHR stock remains a hold with a 15-28 month cash runway.

But for 2024, analysts expect Archer Aviation to generate less than $1 million in revenue as it racks up a net loss of $467 million. With an enterprise value of $1.43 billion, Archer trades at more than 2,000 times that sales estimate.