Monterey Private Wealth Inc. Invests $102,000 in Joby Aviation, Inc. (NYSE:JOBY)

Monterey Private Wealth Inc. bought a new position in Joby Aviation, Inc. (NYSE:JOBY) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 12,522 shares of the company’s stock, valued at approximately $102,000.

A number of other hedge funds have also added to or reduced their stakes in JOBY. Larson Financial Group LLC boosted its stake in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation during the 3rd quarter valued at about $51,000. Sound Income Strategies LLC lifted its stake in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the period. Finally, International Assets Investment Management LLC grew its position in Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after buying an additional 9,188 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

NYSE:JOBY opened at $8.18 on Tuesday. The business’s 50-day simple moving average is $7.97 and its two-hundred day simple moving average is $6.35. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Joby Aviation (NYSE:JOBY) last posted its quarterly 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). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on JOBY. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC boosted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Canaccord Genuity Group raised their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of Joby Aviation stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total value of $76,920.00. Following the sale, the insider now owns 50,902 shares of the company’s stock, valued at $509,020. The trade was a 13.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joeben Bevirt sold 23,886 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the sale, the chief executive officer now directly owns 768,293 shares in the company, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 640,849 shares of company stock valued at $5,601,747. Corporate insiders own 32.40% of the company’s stock.

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.