Odyssean LLC Grows Position in Joby Aviation, Inc. $JOBY

Odyssean LLC boosted its position in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 453.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 132,276 shares of the company's stock after purchasing an additional 108,379 shares during the quarter. Odyssean LLC's holdings in Joby Aviation were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in JOBY. Fifth Third Bancorp increased its stake in Joby Aviation by 207.4% in the fourth 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 last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Joby Aviation during the 4th quarter worth about $28,000. Ancora Advisors LLC purchased a new stake in Joby Aviation in the third quarter valued at approximately $35,000. Pandora Wealth Inc. acquired a new position in Joby Aviation during the fourth quarter worth approximately $32,000. Finally, DV Equities LLC purchased a new position in Joby Aviation during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 52.85% of the company's stock.

Analyst Upgrades and Downgrades

JOBY has been the topic of several research reports. Canaccord Genuity Group cut their target price on Joby Aviation from $15.50 to $11.50 and set a "hold" rating on the stock in a research report on Thursday, May 7th. Barclays raised Joby Aviation to a "hold" rating in a research report on Wednesday, July 29th. Susquehanna set a $18.00 price target on Joby Aviation in a research note on Thursday, August 6th. Wall Street Zen downgraded Joby Aviation from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Finally, Needham & Company LLC reduced their price objective on Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $13.81.

Insider Buying and Selling

In other Joby Aviation news, insider Eric Allison sold 27,932 shares of the stock in a transaction on Monday, July 13th. The stock was sold at an average price of $7.53, for a total value of $210,327.96. Following the sale, the insider directly owned 710,396 shares of the company's stock, valued at $5,349,281.88. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Paul Cahill Sciarra sold 62,500 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $7.96, for a total value of $497,500.00. Following the completion of the sale, the director owned 55,765,557 shares in the company, valued at $443,893,833.72. The trade was a 0.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 275,569 shares of company stock valued at $2,511,445 over the last 90 days. 20.35% of the stock is owned by corporate insiders.

Joby Aviation Trading Down 0.6%

Shares of JOBY opened at $7.18 on Thursday. Joby Aviation, Inc. has a one year low of $6.63 and a one year high of $19.98. The stock has a 50-day moving average price of $8.05 and a 200 day moving average price of $9.13. The company has a debt-to-equity ratio of 0.40, a quick ratio of 17.98 and a current ratio of 17.98. The company has a market capitalization of $7.10 billion, a P/E ratio of -7.25 and a beta of 2.73.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share 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 company had revenue of $38.64 million for the quarter, compared to analyst estimates of $30.20 million. During the same period in the prior year, the business earned ($0.41) earnings per share. Joby Aviation's revenue was up 257493.3% on a year-over-year basis. Sell-side analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current fiscal year.

Joby Aviation 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.

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