Salem Investment Counselors Inc. Raises Position in Joby Aviation, Inc. (NYSE:JOBY)

Salem Investment Counselors Inc. boosted its position in Joby Aviation, Inc. (NYSE:JOBY) by 5,000.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,100 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Salem Investment Counselors Inc.’s holdings in Joby Aviation were worth $41,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Empowered Funds LLC purchased a new stake in shares of Joby Aviation in the third quarter worth $51,000. Sound Income Strategies LLC boosted its stake in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. 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 worth $58,000 after buying an additional 9,188 shares in the last quarter. Finally, Choreo LLC bought a new position in Joby Aviation in the 2nd quarter worth about $60,000. 52.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Joby Aviation news, insider Didier Papadopoulos sold 7,692 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were 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. This trade represents a 13.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the transaction, the insider now directly owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 638,982 shares of company stock valued at $5,586,157 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JOBY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC increased their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group upped their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price target for the company from $5.00 to $6.00 in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Stock Performance

JOBY stock opened at $7.85 on Wednesday. The firm has a market cap of $6.01 billion, a P/E ratio of -11.21 and a beta of 2.33. The firm’s fifty day moving average is $7.75 and its 200 day moving average is $6.26. Joby Aviation, Inc. has a 52 week low of $4.50 and a 52 week high of $10.72.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) 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 company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period last year, the business posted ($0.13) earnings per share. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.