Valueworks LLC Buys 288,140 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Valueworks LLC increased its stake in Joby Aviation, Inc. (NYSE:JOBY - Free Report) by 14.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,340,170 shares of the company's stock after purchasing an additional 288,140 shares during the quarter. Joby Aviation makes up approximately 6.3% of Valueworks LLC's investment portfolio, making the stock its 3rd biggest position. Valueworks LLC owned approximately 0.31% of Joby Aviation worth $19,026,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Joby Aviation by 9.9% during the 4th quarter. NewEdge Advisors LLC now owns 21,505 shares of the company's stock valued at $175,000 after purchasing an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC raised its holdings in Joby Aviation by 3.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company's stock valued at $543,000 after buying an additional 2,000 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Joby Aviation by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock worth $299,000 after acquiring an additional 2,261 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Joby Aviation by 35.3% during the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock valued at $80,000 after buying an additional 2,574 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Joby Aviation by 32.7% in the fourth quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock worth $109,000 after buying an additional 3,308 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Stock Up 0.2%

JOBY stock traded up $0.01 during trading on Thursday, hitting $6.64. 11,285,221 shares of the company's stock traded hands, compared to its average volume of 12,034,306. The firm has a market capitalization of $5.23 billion, a P/E ratio of -9.49 and a beta of 2.34. The business has a fifty day simple moving average of $6.32 and a two-hundred day simple moving average of $7.15. Joby Aviation, Inc. has a 1 year low of $4.66 and a 1 year high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm posted ($0.14) EPS. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the sale, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. This trade represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joeben Bevirt sold 101,652 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $6.66, for a total value of $677,002.32. Following the completion of the transaction, the chief executive officer now owns 60,526,762 shares of the company's stock, valued at $403,108,234.92. This trade represents a 0.17% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 753,766 shares of company stock valued at $4,659,968. 28.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 target price (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. HC Wainwright restated a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, May 5th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price objective on Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.67.

Joby Aviation Company Profile

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.