Tidal Investments LLC Buys 3,522 Shares of Joby Aviation, Inc. (NYSE:JOBY)

Tidal Investments LLC lifted its position in Joby Aviation, Inc. (NYSE:JOBY) by 13.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,246 shares of the company’s stock after acquiring an additional 3,522 shares during the period. Tidal Investments LLC’s holdings in Joby Aviation were worth $147,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after acquiring an additional 670,852 shares during the period. State Street Corp lifted its stake in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after purchasing an additional 812,248 shares during the last quarter. Ieq Capital LLC grew its holdings in Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the period. Bank of New York Mellon Corp increased its position in Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after buying an additional 435,069 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Eric Allison sold 27,817 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $5.56, for a total value of $154,662.52. Following the sale, the insider now owns 463,151 shares of the company’s stock, valued at approximately $2,575,119.56. This trade represents a 5.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction 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 completion of the transaction, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 508,731 shares of company stock valued at $2,621,909. 32.40% of the stock is owned by corporate insiders.

Joby Aviation Stock Performance

NYSE:JOBY opened at $8.26 on Thursday. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of -11.80 and a beta of 2.32. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $9.33. The firm’s 50-day simple moving average is $6.72 and its 200 day simple moving average is $5.85.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. Canaccord Genuity Group dropped their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. reduced their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Needham & Company LLC started coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation 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.