Archer Aviation (NYSE:ACHR) has been a standout electric vertical take-off and landing (EVTOL) company this year, with shares up by 225% so far. Last month, the company also added fuel to the fire by announcing that it had signed a memorandum of understanding (MOU) with Air Chateau at the Dubai Air Show.
The MOU encompasses Air Chateau’s planned purchase of up to 100 Midnight aircrafts. In addition, Air Chateau will provide Archer with an initial non-refundable, pre-delivery payment of $1 million by Dec. 31. Over the coming months, the two companies will engage in discussions to finalize a definitive agreement. Archer noted that it may be able to receive another $4 million payment from Air Chateau following a formal agreement.
The Midnight isn’t yet available for sale, although Archer expects it to enter the market in 2025. Archer will produce the aircraft in its planned manufacturing facility in Covington, Georgia. Construction of the first phase of the facility has already commenced with an expected output of 650 aircraft per year upon completion. This would make the facility the largest eVTOL producer in the world in terms of volume. Upon completion of phase two, the facility is expected to have an annual capacity of over 2,000 aircraft per year.
5 Investors Betting Big on ACHR Stock
Tracking institutional ownership is important, as these large investors provide liquidity and support for stocks. During the third quarter, 195 13F filers disclosed a stake in ACHR stock, a significant increase from 138 filers during the previous quarter. In total, these filers own 115.55 million shares, up by 46.81% from 78.70 million shares during the second quarter. It’s safe to say that institutional ownership of ACHR increased significantly during Q3.
Hedge funds, who are included in 13F data, are also bullish on the company. Their ownership rose by 73.57% to 50.29 million shares.
With that in mind, let’s take a look at Archer’s top five shareholders:
- Adam Goldstein, founder and CEO: 34.31 million shares. Goldstein’s stake is accurate as of Q2 2022.
- Stellantis (NYSE:STLA): 33.79 million shares. Stellantis’ stake is accurate as of October, when it reported the acquisition of 12.31 million shares.
- Marc Lore, lead investor: 28.08 million shares. Lore’s stake is accurate as of Q4 2022.
- Ark Investment Management: 23.42 million shares. Ark acquired 14.62 million shares during Q3.
- BlackRock (NYSE:BLK): 12.96 million shares. BlackRock acquired 293,509 shares during Q3.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
