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Mark Mesler, the Chief Financial Officer of Archer Aviation Inc. (NYSE:ACHR), recently reported a significant stock sale. On March 4, Mesler sold 62,258 shares of Class A Common Stock, generating approximately $479,492. The shares were sold at an average price of $7.7017, with individual transaction prices ranging from $7.41 to $8.12. The transaction comes as ACHR trades near $7.98, having surged over 145% in the past six months. According to InvestingPro analysis, the stock is currently trading above its Fair Value. This transaction was part of a routine process to cover tax obligations related to the vesting of restricted stock units.
Earlier, on March 1, Mesler acquired a total of 102,943 shares of Class A Common Stock through the exercise of restricted stock units. These transactions were executed at no cost, increasing his direct ownership to 692,501 shares prior to the subsequent sale.
In other recent news, Archer Aviation Inc. reported mixed financial performance for Q4 2024, maintaining a strong liquidity position with over $1 billion but facing challenges with rising expenses, which increased by 22% year-over-year. Despite these challenges, the company is advancing its Midnight electric air taxi development and plans to commercially launch in 2025. Analysts from Needham raised their price target for Archer Aviation to $13, reflecting strong confidence in the company’s ability to fulfill its approximately $6 billion order book. Cantor Fitzgerald and Benchmark both maintained positive ratings on Archer Aviation, with Cantor Fitzgerald highlighting strategic partnerships as key to Archer’s commercialization efforts. Canaccord Genuity also raised its price target to $13.50, citing the company’s strong positioning in the urban air mobility market. Archer’s partnerships with entities such as United Airlines and Stellantis (NYSE:STLA) were noted as strategic moves to expand its market reach. The company plans to construct 10 Midnight aircraft for certification purposes and early adopters by fiscal year 2025, with Abu Dhabi Aviation set to become the first Midnight operator.
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