Ring Mountain Capital LLC Acquires Shares of 20,003 Joby Aviation, Inc. $JOBY

Ring Mountain Capital LLC acquired a new stake in shares of Joby Aviation, Inc. (NYSE:JOBY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 20,003 shares of the company’s stock, valued at approximately $211,000.

Several other large investors have also bought and sold shares of JOBY. CWM LLC increased its position in shares of Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after purchasing an additional 689 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Joby Aviation by 2.6% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company’s stock valued at $335,000 after purchasing an additional 800 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Joby Aviation by 1.1% in the second quarter. Nisa Investment Advisors LLC now owns 76,179 shares of the company’s stock valued at $804,000 after acquiring an additional 864 shares during the last quarter. GoalVest Advisory LLC boosted its stake in Joby Aviation by 5.1% in the second quarter. GoalVest Advisory LLC now owns 20,500 shares of the company’s stock valued at $216,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Joby Aviation by 2.6% in the second quarter. Stratos Wealth Partners LTD. now owns 58,277 shares of the company’s stock valued at $615,000 after acquiring an additional 1,450 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Performance

Shares of Joby Aviation stock opened at $14.73 on Wednesday. Joby Aviation, Inc. has a 52-week low of $4.87 and a 52-week high of $20.95. The stock’s 50-day simple moving average is $15.70 and its 200 day simple moving average is $12.71. The stock has a market capitalization of $12.60 billion, a P/E ratio of -13.76 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The business’s revenue for the quarter was down 94.6% compared to the same quarter last year. Equities research analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on JOBY. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Wall Street Zen cut shares of Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Morgan Stanley boosted their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Zacks Research cut shares of Joby Aviation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Canaccord Genuity Group cut shares of Joby Aviation from a “buy” rating to a “hold” rating and boosted their target price for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $12.00.

Insiders Place Their Bets

In other Joby Aviation news, CEO Joeben Bevirt sold 32,284 shares of Joby Aviation stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $541,725.52. Following the completion of the transaction, the chief executive officer owned 249,587 shares of the company’s stock, valued at $4,188,069.86. The trade was a 11.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kate Dehoff sold 20,824 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $17.48, for a total transaction of $364,003.52. Following the completion of the sale, the insider directly owned 149,369 shares in the company, valued at approximately $2,610,970.12. The trade was a 12.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,830,880 shares of company stock worth $28,060,985 in the last ninety days. 32.40% of the stock is owned by corporate insiders.

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.