Charles Schwab Investment Management Inc. Buys 446,864 Shares of Archer Aviation Inc. (NYSE:ACHR)

Charles Schwab Investment Management Inc. raised its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the Securities & 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 0.54% of Archer Aviation worth $22,206,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ACHR. GPS Wealth Strategies Group LLC raised its position in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares in the last quarter. Tidal Investments LLC raised its position in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after acquiring an additional 3,339 shares in the last quarter. US Bancorp DE raised its position in shares of Archer Aviation by 2,725.3% in 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. EP Wealth Advisors LLC raised its position in shares of Archer Aviation by 50.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock worth $45,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock worth $45,000 after acquiring an additional 3,033 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Insider Transactions at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. The trade was a 8.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 303,985 shares of company stock worth $2,555,685 in the last 90 days. Insiders own 9.75% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACHR. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. HC Wainwright restated a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Needham & Company LLC raised their target price on Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Archer Aviation presently has an average rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Stock Up 5.3 %

ACHR stock traded up $0.44 during mid-day trading on Friday, reaching $8.72. 51,385,462 shares of the company traded hands, compared to its average volume of 19,004,724. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of -6.60 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The firm's 50 day moving average price is $8.80 and its 200 day moving average price is $6.67.

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

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.