39,330 Shares in Joby Aviation, Inc. $JOBY Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 39,330 shares of the company’s stock, valued at approximately $635,000.

A number of other institutional investors have also made changes to their positions in the company. Asset Planning Inc boosted its stake in shares of Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its position in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the last quarter. Canton Hathaway LLC acquired a new stake in shares of Joby Aviation during the third quarter valued at about $29,000. Hilltop National Bank purchased a new stake in shares of Joby Aviation during the third quarter worth about $32,000. Finally, GPS Wealth Strategies Group LLC lifted its stake in shares of Joby Aviation by 32.0% in the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after acquiring an additional 750 shares in the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Joby Aviation

In other news, insider Bonny W. Simi sold 110,173 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the completion of the transaction, the insider owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. The trade was a 46.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Didier Papadopoulos sold 11,650 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total transaction of $157,391.50. Following the transaction, the insider owned 120,147 shares of the company’s stock, valued at $1,623,185.97. This represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 289,556 shares of company stock worth $4,052,822. 32.40% of the stock is owned by company insiders.

Joby Aviation Stock Performance

NYSE JOBY opened at $13.26 on Tuesday. Joby Aviation, Inc. has a one year low of $4.96 and a one year high of $20.95. The company has a 50-day simple moving average of $14.45 and a 200-day simple moving average of $15.41. The firm has a market capitalization of $12.09 billion, a PE ratio of -9.90 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analysts’ expectations of $0.02 million. During the same quarter last year, the business posted ($0.21) EPS. The firm’s revenue for the quarter was up 7962.1% compared to the same quarter last year. Equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

JOBY has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $13.43.

Joby Aviation Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.