Bosun Asset Management LLC Increases Position in Joby Aviation, Inc. $JOBY

Bosun Asset Management LLC grew its position in Joby Aviation, Inc. (NYSE:JOBY) by 128.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 233,836 shares of the company’s stock after purchasing an additional 131,561 shares during the quarter. Joby Aviation makes up 0.7% of Bosun Asset Management LLC’s investment portfolio, making the stock its 18th largest position. Bosun Asset Management LLC’s holdings in Joby Aviation were worth $2,467,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

JOBY has been the topic of several recent analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Morgan Stanley upped their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and a consensus target price of $13.43.

Insider Buying and Selling

In other news, insider Eric Allison sold 27,537 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the sale, the insider directly owned 692,428 shares of the company’s stock, valued at $11,660,487.52. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory Bowles sold 3,931 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $13.72, for a total value of $53,933.32. Following the transaction, the insider directly owned 159,085 shares in the company, valued at $2,182,646.20. This represents a 2.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,154,802 shares of company stock worth $17,844,775 in the last three months. Company insiders own 28.50% of the company’s stock.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $15.27 on Friday. The stock has a fifty day moving average price of $15.71 and a 200 day moving average price of $13.93. Joby Aviation, Inc. has a 1-year low of $4.96 and a 1-year high of $20.95. The company has a market cap of $13.92 billion, a PE ratio of -11.40 and a beta of 2.53.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same period in the previous year, the business earned ($0.21) EPS. The business’s revenue for the quarter was up 7962.1% on a year-over-year basis. Analysts anticipate 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.