Archer Aviation’s chief people officer sells $379,485 in stock

SAN JOSE, Calif.—Tosha Perkins, Chief People Partnerships Officer at Archer Aviation Inc. (NYSE:ACHR), a $4.27 billion market cap company, executed a significant stock transaction earlier this month. On March 4, Perkins sold 49,273 shares of Archer Aviation’s Class A common stock, generating approximately $379,485. The shares were sold at a weighted average price of $7.70, with individual sale prices ranging from $7.41 to $8.12. The stock has shown remarkable volatility, delivering a 145.54% return over the past six months despite an 18.15% decline year-to-date.

The sale was conducted to satisfy tax withholding obligations linked to the vesting of restricted stock units, as per company policy. Following the sale, Perkins holds 232,396 shares directly.

In addition to the sale, Perkins acquired a total of 84,314 shares on March 1 through multiple transactions, although these acquisitions were at no cost as they were related to the vesting of restricted stock units.

Archer Aviation, based in San Jose, is known for its innovative work in the aircraft manufacturing sector, particularly in the development of electric vertical takeoff and landing (eVTOL) vehicles.

In other recent news, Archer Aviation Inc. has reported its fourth-quarter financial performance for 2024, revealing a strong liquidity position with over $1 billion. However, the company faced a 22% increase in non-GAAP operating expenses year-over-year, totaling $380.6 million. Archer Aviation’s ongoing efforts to advance the Midnight electric vertical takeoff and landing (eVTOL) aircraft in its FAA certification process were highlighted by Benchmark analysts, who maintained a Buy rating with a $12 target. The company plans to deliver the first Midnight eVTOL to the UAE’s General Civil Aviation Authority later this year, with Abu Dhabi Aviation set to become the first operator.

Analysts from Needham raised Archer Aviation’s stock target to $13, emphasizing the company’s ability to fulfill its $6 billion order book and the potential to reach significant financial milestones in fiscal year 2025. Cantor Fitzgerald echoed this optimism, maintaining an Overweight rating with a $13 target, citing strategic partnerships as crucial to Archer Aviation’s commercialization efforts. Additionally, Canaccord Genuity increased its price target to $13.50, praising the company’s strong positioning in the urban air mobility market.

Archer Aviation’s recent decision to explore hybrid VTOL aircraft for defense applications, in collaboration with Anduril Industries, has been viewed as a strategic move to diversify revenue streams. The company’s partnerships and international expansion plans are seen as pivotal to its growth, with substantial pre-delivery payments and deposits further indicating market traction. These developments reflect Archer Aviation’s ongoing efforts to navigate the challenges of FAA certification while pursuing early monetization strategies in international markets.

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