Archer Aviation Inc. (NYSE:ACHR) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,830,666 shares of the company’s stock after purchasing an additional 94,430 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.51% of Archer Aviation worth $5,547,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Miller Wealth Advisors LLC purchased a new position in Archer Aviation in the third quarter valued at $26,000. Code Waechter LLC acquired a new stake in Archer Aviation in the third quarter valued at about $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the third quarter valued at about $31,000. Hollencrest Capital Management increased its stake in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Stock Down 2.8 %

ACHR stock opened at $7.18 on Friday. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $9.84. The firm has a 50 day simple moving average of $4.78 and a 200 day simple moving average of $4.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $3.05 billion, a PE ratio of -5.44 and a beta of 3.16.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) EPS. Equities research analysts forecast that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. HC Wainwright initiated coverage on shares of Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Finally, Needham & Company LLC initiated coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.33.

Insider Buying and Selling

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 1,069,958 shares of company stock valued at $5,461,608. Company insiders own 9.75% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.