Joby Aviation, Inc. $JOBY Position Boosted by Odyssean LLC

Odyssean LLC grew its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 453.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 132,276 shares of the company’s stock after purchasing an additional 108,379 shares during the period. Odyssean LLC’s holdings in Joby Aviation were worth $1,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JOBY. Fifth Third Bancorp increased its position in shares of Joby Aviation by 207.4% during the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at $27,000. EverSource Wealth Advisors LLC boosted its stake in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Joby Aviation during the fourth quarter valued at about $28,000. Finally, Pandora Wealth Inc. acquired a new position in Joby Aviation during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research reports. Needham & Company LLC dropped their price target on shares of Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Canaccord Genuity Group lowered their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Barclays raised shares of Joby Aviation to a “hold” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $13.81.

Joby Aviation Price Performance

JOBY opened at $7.18 on Thursday. The stock has a fifty day moving average of $8.05 and a 200-day moving average of $9.13. The firm has a market capitalization of $7.10 billion, a P/E ratio of -7.25 and a beta of 2.73. Joby Aviation, Inc. has a 12-month low of $6.63 and a 12-month high of $19.98. The company has a quick ratio of 17.98, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.02). Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business had revenue of $38.64 million during the quarter, compared to analyst estimates of $30.20 million. During the same period last year, the business earned ($0.41) EPS. The business’s quarterly revenue was up 257493.3% on a year-over-year basis. Equities analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 14,240 shares of the firm’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 sale, the insider directly owned 180,179 shares in the company, valued at approximately $1,392,783.67. This trade represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Didier Papadopoulos sold 12,939 shares of Joby Aviation stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $8.92, for a total value of $115,415.88. Following the transaction, the insider directly owned 160,620 shares in the company, valued at approximately $1,432,730.40. This trade represents a 7.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 275,569 shares of company stock worth $2,511,445. 20.35% of the stock is currently owned by company insiders.

About Joby Aviation

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.