Watts Gwilliam & Co. LLC Acquires New Shares in Joby Aviation, Inc. (NYSE:JOBY)

Watts Gwilliam & Co. LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,000 shares of the company’s stock, valued at approximately $154,000.

Several other hedge funds have also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in Joby Aviation in the 4th quarter valued at approximately $142,000. Tidal Investments LLC increased its position in Joby Aviation by 13.7% during the third quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after buying an additional 3,522 shares in the last quarter. Geode Capital Management LLC increased its position in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares in the last quarter. Kensington Investment Counsel LLC increased its position in Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock worth $172,000 after buying an additional 3,653 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its position in Joby Aviation by 15.4% during the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after buying an additional 5,000 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JOBY. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC began coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target for the company. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $5.00 to $6.00 in a report on Friday. Finally, Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $8.90.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the transaction, the insider now owns 29,235 shares in the company, valued at $236,218.80. The trade was a 20.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total value of $153,439.00. Following the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,096,771.50. This represents a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 355,160 shares of company stock worth $3,177,342. 32.40% of the stock is owned by insiders.

Joby Aviation Stock Down 7.7 %

JOBY stock opened at $8.76 on Friday. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $10.72. The stock’s fifty day simple moving average is $7.64 and its 200-day simple moving average is $6.20. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of -12.51 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the business posted ($0.13) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Joby Aviation Company 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.