Cetera Investment Advisers Buys 16,953 Shares of Joby Aviation, Inc. $JOBY

Key Points

• Cetera Investment Advisers increased its stake in Joby Aviation, Inc. by 44.3%, acquiring an additional 16,953 shares to bring its total holdings to 55,229 shares, valued at approximately $332,000.
• Joby Aviation reported a significant earnings miss for the quarter, with an EPS of ($0.24), which was below analyst expectations of ($0.18), resulting in a 94.6% decline in quarterly revenue compared to the previous year.
• Several analysts have downgraded Joby Aviation's stock ratings recently, with Canaccord Genuity lowering it from "buy" to "hold" and adjusting the price target up to $17.00, indicating mixed sentiments in the market.

Cetera Investment Advisers lifted its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,229 shares of the company's stock after acquiring an additional 16,953 shares during the period. Cetera Investment Advisers' holdings in Joby Aviation were worth $332,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank bought a new position in shares of Joby Aviation in the 4th quarter worth $41,000. Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation during the 4th quarter valued at about $41,000. GAMMA Investing LLC raised its stake in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after buying an additional 5,015 shares during the last quarter. Decker Retirement Planning Inc. boosted its holdings in Joby Aviation by 250.0% in the first quarter. Decker Retirement Planning Inc. now owns 7,000 shares of the company's stock worth $42,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in Joby Aviation in the first quarter worth about $43,000. 52.85% of the stock is owned by institutional investors.

Joby Aviation Stock Performance

Shares of JOBY stock opened at $14.8460 on Wednesday. The stock's 50-day simple moving average is $13.71 and its 200-day simple moving average is $9.20. The firm has a market capitalization of $12.71 billion, a PE ratio of -13.87 and a beta of 2.52. Joby Aviation, Inc. has a fifty-two week low of $4.70 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%.The company had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.05 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The firm's quarterly revenue was down 94.6% compared to the same quarter last year. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Bonny W. Simi sold 173,456 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $17.25, for a total value of $2,992,116.00. Following the sale, the insider owned 211,397 shares in the company, valued at $3,646,598.25. This represents a 45.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kate Dehoff sold 20,823 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the sale, the insider owned 202,276 shares in the company, valued at $2,765,112.92. The trade was a 9.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,936,558 shares of company stock valued at $21,551,263. 32.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JOBY has been the subject of several research analyst reports. Canaccord Genuity Group lowered shares of Joby Aviation from a "buy" rating to a "hold" rating and increased their price objective for the company from $12.00 to $17.00 in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Joby Aviation from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. HC Wainwright downgraded shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.50.

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.

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