Charles Schwab Investment Management Inc. Grows Stock Holdings in Archer Aviation Inc. (NYSE:ACHR)

Charles Schwab Investment Management Inc. lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 24.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,277,530 shares of the company’s stock after purchasing an additional 446,864 shares during the period. Charles Schwab Investment Management Inc. owned about 0.54% of Archer Aviation worth $22,206,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in Archer Aviation by 4,263.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 197,207 shares of the company’s stock worth $1,923,000 after acquiring an additional 192,687 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Archer Aviation during the 4th quarter worth $264,000. Jones Financial Companies Lllp raised its stake in Archer Aviation by 31.4% during the 4th quarter. Jones Financial Companies Lllp now owns 18,016 shares of the company’s stock worth $176,000 after acquiring an additional 4,305 shares in the last quarter. US Bancorp DE raised its stake in Archer Aviation by 2,725.3% during the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after acquiring an additional 4,306 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Archer Aviation during the 4th quarter worth $310,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACHR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. HC Wainwright restated a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,985 shares of company stock worth $2,555,685 over the last ninety days. 9.75% of the stock is currently owned by company insiders.

Archer Aviation Trading Down 2.6 %

Shares of Archer Aviation stock opened at $8.10 on Wednesday. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $8.89 and its 200-day simple moving average is $6.61. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -6.13 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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.