Charles Schwab Investment Management Inc. Grows Holdings in Archer Aviation Inc. $ACHR

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Archer Aviation Inc. (ACHR) by 36.4% during the 1st quarter, owning over 3 million shares valued at approximately $22 million.
• Multiple institutional investors have significantly raised their positions in Archer Aviation, with Vanguard Group Inc. increasing its stake by 19.7% and Alyeska Investment Group by 158.3%.
• Insider sales occurred with the CFO and another insider selling shares at about $9.83, reflecting a notable decrease in their respective holdings.

Charles Schwab Investment Management Inc. raised its stake in shares of Archer Aviation Inc. (NYSE:ACHR - Free Report) by 36.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,105,423 shares of the company's stock after purchasing an additional 827,893 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.57% of Archer Aviation worth $22,080,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its stake in Archer Aviation by 87.0% during the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after purchasing an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in Archer Aviation during the 4th quarter valued at approximately $27,000. Tidemark LLC increased its stake in Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after purchasing an additional 2,000 shares in the last quarter. ORG Partners LLC acquired a new position in Archer Aviation during the 1st quarter valued at approximately $32,000. Finally, GPS Wealth Strategies Group LLC increased its stake in Archer Aviation by 57.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 5,345 shares of the company's stock valued at $38,000 after purchasing an additional 1,950 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

Insider Activity

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Eric Lentell sold 95,896 shares of Archer Aviation stock in a transaction on Monday, June 30th. The shares were sold at an average price of $10.60, for a total transaction of $1,016,497.60. The disclosure for this sale can be found here. Insiders sold a total of 283,964 shares of company stock worth $2,865,206 over the last three months. Corporate insiders own 7.65% of the company's stock.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded up $0.2770 during trading on Friday, hitting $9.6570. 25,053,983 shares of the company's stock were exchanged, compared to its average volume of 29,753,948. The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The business 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 52-week low of $2.82 and a 52-week high of $13.92. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of -7.15 and a beta of 3.08.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). On average, research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ACHR shares. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. UBS Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Archer Aviation presently has an average rating of "Moderate Buy" and an average price target of $13.43.

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.