Archer or Joby: Billionaire Israel Englander Makes a Move on One Top Flying-Taxi Stock

With $35 million to work with and a clear sense of where the industry was headed, billionaire Israel Englander set Millennium Management in motion back in 1989. The firm has since transformed into a global hedge-fund giant, now backed by more than 6,400 employees and 330 investment teams overseeing $79 billion in assets.

The fund has enjoyed decades of success, delivering ~14% annual returns since inception and posting a loss only once in 35 years, helping build Englander’s personal wealth to $18.9 billion.

To be able to achieve such success in the market requires a finger on the pulse, and Englander has clearly been tracking developments in the nascent eVTOL (electric vertical take-off and landing) aircraft sector, which, in simpler terms, can be called flying taxis. This is a segment still in its early stages – there are no flying taxis hovering above city centers yet – but one that offers promise of a shift in urban travel.

Both Archer Aviation (NYSE:ACHR) and Joby Aviation (NYSE:JOBY) are leading eVTOL names, hoping to have their aircraft zooming across city skies shortly, but Englander has recently been busy loading up heavily on just one of these, while cutting his stake in its rival.

So, we’ve decided to get the lowdown on the pair, and by delving into the TipRanks database, we can also find out what the Street’s cadre of analysts thinks about Englander’s latest moves.

Archer Aviation

First up is Archer Aviation, an eVTOL startup pushing to launch its Midnight air taxi for short urban flights. The company is working toward commercialization and FAA certification and has a Launch Edition Program aimed at deploying its Midnight aircraft into markets expected to adopt eVTOLs early, possibly even before full FAA approval.

Management expects Abu Dhabi Aviation to be its first customer, and the company has already delivered its first Midnight aircraft to the UAE under agreements with Abu Dhabi Aviation and the Abu Dhabi Investment Office. During the recent Q3 call, Archer stated that it has begun receiving milestone-based cash payments and is targeting its first revenues in 2026. The company also noted that UAE certification could come as early as 3Q26. On the FAA side, Archer said it is still in the piloted flight-test phase and is approaching Type Inspection Authorization testing, the final stage of the FAA certification process.

Furthermore, Archer has set up a defense division in partnership with Anduril Industries to build next-generation hybrid VTOL military aircraft, and earlier this week struck a deal to supply its proprietary eVTOL powertrain (used in its Midnight aircraft) to Anduril and EDGE Group for the Omen autonomous air vehicle, opening a new revenue stream.

Archer also made headlines earlier this year, when it was chosen to be the official and exclusive air taxi provider for the L.A. 2028 Olympic Games, Paralympic Games, and the sole eVTOL sponsor for Team USA.

More recently, Archer announced it will acquire Hawthorne Airport, just three miles from LAX, for $126 million in cash. Positioned near major attractions like SoFi Stadium and Downtown L.A., the airport will serve as Archer’s operational hub for air taxi services in Los Angeles, including during the 2028 Olympics.

It’s safe to say Englander must like what’s taking place here. During Q3, his fund loaded up on 1,383,769 shares, increasing its ACHR stake by 388%. Millennium Management now holds 1,741,270 shares worth about $13 million.

Mirroring that confidence, Cantor analyst Andres Sheppard is also impressed by the company’s latest moves.

“We are pleasantly surprised and encouraged by the recent acquisition of Hawthorne’s Airport in L.A,” the analyst said. “We expect this facility will be used as Archer’s operational hub for its air taxi operations in L.A. More importantly we see it as key asset purchase that will enable, facilitate and pave the way for the company’s Air Taxi services at the LA 2028 Olympics, which ACHR has the exclusivity for. Additionally, with a cash balance of ~$1.7B and total liquidity of ~$2.2B (after recent capital raise), ACHR continues to have the highest liquidity in the industry, which gives us confidence in the company’s path towards Commercialization and FAA Certification… Overall, we remain bullish on ACHR at current levels…”

That bullish take translates to an Overweight (i.e., Buy) rating while Sheppard’s $13 price target offers one-year upside of 74%. (To watch Sheppard’s track record, click here)

Overall, ACHR gets a Strong Buy consensus rating on the Street, based on a mix of 4 Buys vs. 1 Hold. Going by the $12.20 average price target, a year from now, shares will be changing hands for a 63% premium. (See ACHR stock forecast)

Joby Aviation

Next, we turn to Archer’s peer, Joby Aviation. The Santa Cruz, California-based company is building electric air taxis designed both to operate its own urban ride-sharing service and to sell aircraft to partners.

Joby has been making meaningful progress toward FAA certification: in Q3, the company started power-on testing of its first FAA‑conforming aircraft for Type Inspection Authorization (TIA), the final certification phase. Additionally, Joby has flown over 600 flights this year, including its first airport-to-airport trip (Marina to Monterey), showing readiness for commercial use. The company also conducted two full weeks of scheduled flights in Osaka for World Expo 2025, showcasing the aircraft to hundreds of thousands of attendees, and made its first public U.S. appearance at an airshow in Salinas, California.

Meanwhile, in August, Joby finalized its acquisition of Blade Air Mobility’s passenger operations, giving it access to Blade’s terminals and customer network. This move speeds up Joby’s eVTOL rollout by leveraging Blade’s established infrastructure and client base.

Also in August, Joby Aviation teamed up with defense contractor L3Harris Technologies to develop an optionally piloted, hybrid-electric VTOL aircraft for military use. Just three months after forming the partnership, Joby began ground testing the aircraft and successfully showcased its autonomous flight system, Superpilot, during a major defense exercise over the Pacific Ocean.

With all this going on, investors have warmed to the Joby story, and have sent shares up by 116% over the past year. Maybe that was on Englander’s mind when he offloaded 880,637 shares during Q3, representing 40% of his stake.

Canaccord analyst Austin Moeller likes what Joby is doing but also refrains from taking a bullish stance right now.

“We still believe that Joby leads its competitors in the eVTOL ecosystem regarding its aircraft Type Certification process, given the high volume of piloted flight tests conducted to-date and the quantum of data collected in the air,” the analyst explained. “This all being said, we believe that investors should remain neutral for now, given the current valuation, until there is: A) More visibility into the ramp of FAA piloted tests; and B) A better understanding of the near-term cash use in the Blade passenger business prior to the introduction of the S4 eVTOL fleet. We are currently modelling FCF use of (538M) in 2025.”

Accordingly, Moeller rates JOBY shares a Hold (i.e., Neutral), although his $17 price target suggests the stock will gain 24% over the coming months. (To watch Moeller’s track record, click here)

The consensus also lands at Hold, built on 4 Hold ratings alongside 1 Buy and Sell, each. With an average price target of $15.50, analysts are looking for ~13% upside over the next year. (See JOBY stock forecast)

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Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.