Archer Aviation Inc. (NYSE:ACHR) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in shares of Archer Aviation Inc. (NYSE:ACHR) by 2.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 198,774 shares of the company’s stock after selling 5,267 shares during the period. Dimensional Fund Advisors LP’s holdings in Archer Aviation were worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock valued at $22,206,000 after purchasing an additional 446,864 shares during the period. Private Advisor Group LLC raised its stake in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after buying an additional 36,840 shares during the period. ARK Investment Management LLC lifted its position in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in Archer Aviation in the 4th quarter valued at $6,039,000. Finally, Apollon Wealth Management LLC acquired a new stake in Archer Aviation in the 4th quarter valued at $296,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ACHR shares. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Insider Activity

In other Archer Aviation news, CFO Mark Mesler sold 34,498 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the transaction, the chief financial officer now owns 659,357 shares of the company’s stock, valued at $4,641,873.28. This represents a 4.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Tosha Perkins sold 49,273 shares of the 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 transaction, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This trade represents a 17.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 474,780 shares of company stock valued at $3,581,581 in the last 90 days. Company insiders own 9.75% of the company’s stock.

Archer Aviation Stock Up 5.0%

Shares of ACHR opened at $11.72 on Thursday. 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 stock has a fifty day simple moving average of $7.92 and a two-hundred day simple moving average of $7.98. The company has a market capitalization of $6.36 billion, a PE ratio of -8.88 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 analysts forecast that Archer Aviation Inc. will post -1.32 EPS 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.