Entropy Technologies LP Acquires New Position in Joby Aviation, Inc. $JOBY

Entropy Technologies LP acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 102,700 shares of the company’s stock, valued at approximately $848,000.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after buying an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation in the fourth quarter worth $28,000. Ancora Advisors LLC purchased a new stake in shares of Joby Aviation during the third quarter worth $35,000. Pandora Wealth Inc. purchased a new stake in shares of Joby Aviation during the fourth quarter worth $32,000. Finally, DV Equities LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at $33,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Trading Down 1.2%

Shares of NYSE:JOBY opened at $7.28 on Wednesday. Joby Aviation, Inc. has a 52 week low of $6.89 and a 52 week high of $20.95. The company’s 50 day moving average is $9.20 and its two-hundred day moving average is $9.98. The company has a market cap of $7.16 billion, a PE ratio of -6.33 and a beta of 2.71. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. The business had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the previous year, the company earned ($0.11) EPS. Equities analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

JOBY has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a report on Wednesday, May 6th. Canaccord Genuity Group cut their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Morgan Stanley decreased their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.64.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total transaction of $110,075.20. Following the completion of the transaction, the insider directly owned 180,179 shares of the company’s stock, valued at approximately $1,392,783.67. This represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bonny W. Simi sold 7,832 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $69,861.44. Following the completion of the transaction, the insider owned 231,687 shares in the company, valued at approximately $2,066,648.04. The trade was a 3.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,125,580 shares of company stock valued at $12,172,117 over the last 90 days. 20.35% of the stock is currently owned by corporate insiders.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.