Tyche Wealth Partners LLC Takes Position in Joby Aviation, Inc. (NYSE:JOBY)

Tyche Wealth Partners LLC acquired a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,650 shares of the company’s stock, valued at approximately $135,000.

Other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in Joby Aviation during the 3rd quarter valued at about $518,000. Rheos Capital Works Inc. boosted its holdings in Joby Aviation by 17.0% during the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after acquiring an additional 350,000 shares during the period. Fred Alger Management LLC boosted its holdings in Joby Aviation by 89.4% during the 3rd quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after acquiring an additional 58,229 shares during the period. Hamilton Lane Advisors LLC purchased a new stake in Joby Aviation during the 4th quarter valued at about $418,000. Finally, Caprock Group LLC boosted its holdings in Joby Aviation by 179.5% during the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after acquiring an additional 79,896 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now owns 137,097 shares of the company’s stock, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,005,672 shares of company stock valued at $8,537,389. Corporate insiders own 32.40% of the company’s stock.

Joby Aviation Stock Performance

NYSE JOBY opened at $7.86 on Friday. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The stock has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $6.53. The stock has a market cap of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JOBY. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. Needham & Company LLC increased their price objective on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. Finally, Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.30.

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.