Archer Aviation Inc. (NYSE:ACHR) Stock Holdings Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 24.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 0.54% of Archer Aviation worth $22,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after purchasing an additional 2,975 shares during the period. Tidal Investments LLC raised its holdings in shares of Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after purchasing an additional 3,339 shares during the period. US Bancorp DE raised its holdings in shares of Archer Aviation by 2,725.3% during the fourth quarter. US Bancorp DE now owns 4,464 shares of the company's stock worth $44,000 after purchasing an additional 4,306 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Archer Aviation by 50.0% during the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock worth $45,000 after purchasing an additional 5,000 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Archer Aviation by 25.6% during the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock worth $45,000 after purchasing an additional 3,033 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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Archer Aviation Price Performance

ACHR traded down $0.09 on Thursday, reaching $8.28. The company had a trading volume of 15,910,470 shares, compared to its average volume of 18,845,390. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $8.80 and a 200-day moving average of $6.63. The company has a market capitalization of $4.49 billion, a P/E ratio of -6.27 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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.

Analysts Set New Price Targets

A number of analysts recently weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Needham & Company LLC increased their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.61.

Insider Activity

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Eric Lentell sold 43,230 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00. Following the sale, the general counsel now directly owns 53,225 shares of the company's stock, valued at $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,985 shares of company stock worth $2,555,685. Corporate insiders own 9.75% of the company's stock.

Archer Aviation 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.