Ergoteles LLC Buys Shares of 24,000 Joby Aviation, Inc. (NYSE:JOBY)

Ergoteles LLC bought a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 24,000 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds have also bought and sold shares of the stock. Hsbc Holdings PLC bought a new stake in Joby Aviation during the third quarter valued at approximately $54,000. Seven Eight Capital LP lifted its position in Joby Aviation by 48.8% during the third quarter. Seven Eight Capital LP now owns 18,729 shares of the company’s stock valued at $81,000 after purchasing an additional 6,144 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Joby Aviation by 51.8% during the third quarter. Tower Research Capital LLC TRC now owns 20,223 shares of the company’s stock valued at $87,000 after purchasing an additional 6,898 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in shares of Joby Aviation by 45.2% during the third quarter. Ausdal Financial Partners Inc. now owns 17,347 shares of the company’s stock worth $75,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Resources Investment Advisors LLC. purchased a new position in shares of Joby Aviation during the third quarter worth approximately $67,000. 29.14% of the stock is currently owned by institutional investors.

Joby Aviation Stock Up 0.2 %

Shares of NYSE JOBY opened at $4.20 on Thursday. Joby Aviation, Inc. has a 52 week low of $3.15 and a 52 week high of $7.15. The firm’s fifty day moving average is $4.16 and its 200 day moving average is $4.36. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -9.33 and a beta of 1.63.

Joby Aviation (NYSE:JOBY – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 139,578 shares of the business’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $3.69, for a total transaction of $515,042.82. Following the transaction, the chief executive officer now owns 487,680 shares in the company, valued at $1,799,539.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Joby Aviation news, CEO Joeben Bevirt sold 139,578 shares of the firm’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $3.69, for a total value of $515,042.82. Following the completion of the sale, the chief executive officer now directly owns 487,680 shares in the company, valued at $1,799,539.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 9,478 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $3.44, for a total transaction of $32,604.32. Following the completion of the sale, the insider now owns 135,956 shares of the company’s stock, valued at $467,688.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,004 shares of company stock worth $1,054,512. 51.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on JOBY. Deutsche Bank Aktiengesellschaft downgraded shares of Joby Aviation from a “hold” rating to a “sell” rating and decreased their price target for the stock from $6.00 to $4.00 in a research note on Tuesday. Morgan Stanley decreased their price target on shares of Joby Aviation from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, February 27th. Finally, Barclays decreased their price target on shares of Joby Aviation from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Tuesday, November 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.90.

About Joby Aviation

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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. It intends to build an aerial ridesharing service. The company was founded in 2009 and is headquartered in Santa Cruz, California.