Charles Schwab Investment Management Inc. Has $22.08 Million Position in Archer Aviation Inc. $ACHR

Charles Schwab Investment Management Inc. lifted its position in shares of Archer Aviation Inc. (NYSE:ACHR) by 36.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,105,423 shares of the company’s stock after purchasing an additional 827,893 shares during the period. Charles Schwab Investment Management Inc. owned 0.57% of Archer Aviation worth $22,080,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. EP Wealth Advisors LLC grew its stake in Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock valued at $156,000 after buying an additional 1,000 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in Archer Aviation by 8.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company’s stock valued at $121,000 after buying an additional 1,358 shares during the last quarter. CWM LLC grew its stake in Archer Aviation by 13.6% in the 1st quarter. CWM LLC now owns 12,133 shares of the company’s stock valued at $86,000 after buying an additional 1,451 shares during the last quarter. Allworth Financial LP grew its stake in Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after buying an additional 1,664 shares during the last quarter. Finally, Texas Yale Capital Corp. grew its stake in Archer Aviation by 6.1% in the 1st quarter. Texas Yale Capital Corp. now owns 29,450 shares of the company’s stock valued at $209,000 after buying an additional 1,700 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 42,775 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the sale, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the sale, the chief technology officer owned 1,327,469 shares of the company’s stock, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock worth $2,865,206 in the last 90 days. 7.65% of the stock is currently owned by company insiders.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $9.3850 on Friday. The company has a market cap of $5.15 billion, a price-to-earnings ratio of -6.95 and a beta of 3.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The firm has a 50 day simple moving average of $10.42 and a 200 day simple moving average of $9.39. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

About Archer Aviation

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.