Bosun Asset Management LLC Raises Stake in Joby Aviation, Inc. $JOBY

Bosun Asset Management LLC lifted its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 128.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 233,836 shares of the company’s stock after acquiring an additional 131,561 shares during the period. Joby Aviation accounts for approximately 0.7% of Bosun Asset Management LLC’s portfolio, making the stock its 18th biggest position. Bosun Asset Management LLC’s holdings in Joby Aviation were worth $2,467,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares during the last quarter. GPS Wealth Strategies Group LLC grew its stake in shares of Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock valued at $33,000 after buying an additional 750 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Joby Aviation during the 2nd quarter worth approximately $39,000. Solstein Capital LLC purchased a new stake in shares of Joby Aviation during the 2nd quarter valued at approximately $47,000. Finally, Laurel Wealth Advisors LLC lifted its holdings in Joby Aviation by 954.8% in the second quarter. Laurel Wealth Advisors LLC now owns 5,369 shares of the company’s stock valued at $57,000 after acquiring an additional 4,860 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 15,439 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $259,066.42. Following the sale, the insider owned 103,206 shares of the company’s stock, valued at approximately $1,731,796.68. This represents a 13.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kate Dehoff sold 52,907 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $15.76, for a total value of $833,814.32. Following the completion of the sale, the insider owned 149,369 shares in the company, valued at approximately $2,354,055.44. The trade was a 26.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,154,802 shares of company stock valued at $17,844,775. Corporate insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on JOBY shares. The Goldman Sachs Group assumed coverage on Joby Aviation in a research note on Monday, December 1st. They set a “sell” rating and a $10.00 target price for the company. Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Finally, Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Joby Aviation currently has an average rating of “Reduce” and an average target price of $13.43.

Joby Aviation Stock Performance

Shares of JOBY opened at $15.27 on Friday. The stock has a market capitalization of $13.92 billion, a PE ratio of -11.40 and a beta of 2.53. Joby Aviation, Inc. has a 1 year low of $4.96 and a 1 year high of $20.95. The company’s 50-day simple moving average is $15.71 and its 200-day simple moving average is $13.93.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. The business’s quarterly revenue was up 7962.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

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.