Amova Asset Management Americas Inc. Buys 870,244 Shares of Joby Aviation, Inc. $JOBY

Amova Asset Management Americas Inc. lifted its position in Joby Aviation, Inc. (NYSE:JOBY) by 48.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,678,495 shares of the company’s stock after acquiring an additional 870,244 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Joby Aviation were worth $22,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JOBY. Vanguard Group Inc. lifted its holdings in Joby Aviation by 5.1% during the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after acquiring an additional 2,540,382 shares during the period. Man Group plc bought a new stake in Joby Aviation in the third quarter worth about $40,283,000. Norges Bank purchased a new stake in shares of Joby Aviation during the 4th quarter worth approximately $32,269,000. Price T Rowe Associates Inc. MD grew its holdings in Joby Aviation by 80.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,384,180 shares of the company’s stock valued at $44,672,000 after purchasing an additional 1,512,094 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Joby Aviation in the fourth quarter valued at $17,952,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

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

Joby Aviation Stock Up 3.7%

NYSE JOBY opened at $7.50 on Tuesday. The stock has a market capitalization of $7.37 billion, a PE ratio of -6.52 and a beta of 2.71. Joby Aviation, Inc. has a 1 year low of $6.89 and a 1 year high of $20.95. The business’s 50-day moving average is $9.57 and its 200 day moving average is $10.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter last year, the firm posted ($0.11) earnings per share. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 15,788 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the transaction, the chief executive officer owned 239,671 shares of the company’s stock, valued at approximately $2,137,865.32. This represents a 6.18% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Allison sold 27,932 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $7.53, for a total transaction of $210,327.96. Following the completion of the transaction, the insider directly owned 710,396 shares in the company, valued at approximately $5,349,281.88. The trade was a 3.78% 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 1,125,580 shares of company stock worth $12,172,117. 20.35% of the stock is 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.