Joby Aviation, Inc. (NYSE:JOBY) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,500 shares of the company’s stock after selling 2,000 shares during the period. Kovack Advisors Inc.’s holdings in Joby Aviation were worth $58,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC grew its holdings in Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after purchasing an additional 3,000 shares during the last quarter. ProShare Advisors LLC grew its stake in Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares during the last quarter. Amalgamated Bank increased its holdings in Joby Aviation by 46.2% during the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock valued at $71,000 after acquiring an additional 4,391 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Joby Aviation Stock Down 3.0 %

Shares of Joby Aviation stock opened at $5.73 on Friday. The firm has a market cap of $4.10 billion, a PE ratio of -8.19 and a beta of 1.97. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $7.69. The business’s fifty day moving average is $5.43 and its two-hundred day moving average is $5.34.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the company posted ($0.13) earnings per share. Equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Didier Papadopoulos sold 6,025 shares of Joby Aviation stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. The trade was a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kate Dehoff sold 27,898 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total value of $153,439.00. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,096,771.50. The trade was a 12.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on JOBY. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Canaccord Genuity Group reduced their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th.

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.