Algert Global LLC Makes New $90,000 Investment in Joby Aviation, Inc. (NYSE:JOBY)

Algert Global LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 17,730 shares of the company’s stock, valued at approximately $90,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Integris Wealth Management LLC purchased a new stake in Joby Aviation in the second quarter worth $54,000. Dakota Wealth Management bought a new stake in Joby Aviation in the second quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the 2nd quarter valued at $57,000. Finally, Choreo LLC bought a new position in Joby Aviation in the 2nd quarter worth $60,000. Institutional investors own 45.54% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 475,599 shares of company stock valued at $2,398,359. 32.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on JOBY shares. JPMorgan Chase & Co. lifted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group restated a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a research note on Friday, October 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $5.69 on Friday. The firm’s 50 day moving average price is $5.19 and its 200-day moving average price is $5.24. Joby Aviation, Inc. has a 52-week low of $4.50 and a 52-week high of $7.69. The company has a market cap of $4.07 billion, a PE ratio of -11.61 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

About Joby Aviation

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.