JBR Co Financial Management Inc Acquires New Position in Joby Aviation, Inc. (NYSE:JOBY)

JBR Co Financial Management Inc bought a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,265 shares of the company’s stock, valued at approximately $62,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in shares of Joby Aviation by 32.7% in the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company’s stock worth $109,000 after buying an additional 3,308 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Joby Aviation by 8.6% during the 4th quarter. Rhumbline Advisers now owns 594,419 shares of the company’s stock worth $4,833,000 after purchasing an additional 47,070 shares in the last quarter. Allworth Financial LP raised its position in shares of Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after purchasing an additional 3,320 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Joby Aviation during the fourth quarter worth $117,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Joby Aviation by 14.6% in the fourth quarter. New York State Common Retirement Fund now owns 124,751 shares of the company’s stock worth $1,014,000 after acquiring an additional 15,900 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Stock Performance

Joby Aviation stock opened at $8.66 on Wednesday. The firm has a market capitalization of $6.86 billion, a PE ratio of -10.31 and a beta of 2.39. Joby Aviation, Inc. has a one year low of $4.66 and a one year high of $10.72. The stock’s 50 day moving average price is $7.09 and its 200 day moving average price is $7.38.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the sale, the chief executive officer now owns 32,275,793 shares in the company, valued at approximately $190,104,420.77. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 4,683 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.90, for a total transaction of $41,678.70. Following the transaction, the insider now directly owns 79,654 shares in the company, valued at $708,920.60. The trade was a 5.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 755,633 shares of company stock worth $4,682,298 in the last quarter. 32.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on JOBY. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald lowered shares of Joby Aviation from an “overweight” rating to a “neutral” rating and set a $9.00 price objective for the company. in a research report on Thursday, June 12th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.33.

Joby Aviation Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.