Qsemble Capital Management LP Cuts Stake in Joby Aviation, Inc. $JOBY

Qsemble Capital Management LP lowered its stake in shares of Joby Aviation, Inc. (NYSE:JOBY) by 92.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,316 shares of the company’s stock after selling 418,623 shares during the period. Qsemble Capital Management LP’s holdings in Joby Aviation were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JOBY. Royal Bank of Canada boosted its position in shares of Joby Aviation by 110.5% during the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after acquiring an additional 44,659 shares during the last quarter. AQR Capital Management LLC bought a new stake in Joby Aviation in the 1st quarter valued at $273,000. Strs Ohio bought a new stake in Joby Aviation in the 1st quarter valued at $37,000. Cetera Investment Advisers grew its position in shares of Joby Aviation by 16.0% during the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock valued at $676,000 after purchasing an additional 8,840 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Joby Aviation by 80.1% in the second quarter. JPMorgan Chase & Co. now owns 750,733 shares of the company’s stock worth $7,920,000 after purchasing an additional 333,995 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JOBY shares. Needham & Company LLC decreased their target price on Joby Aviation from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings upgraded Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded Joby Aviation from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Canaccord Genuity Group decreased their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Joby Aviation in a report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $7.92 on Friday. Joby Aviation, Inc. has a 52 week low of $6.63 and a 52 week high of $19.98. The stock has a market capitalization of $7.84 billion, a P/E ratio of -8.00 and a beta of 2.73. The firm has a fifty day simple moving average of $8.35 and a two-hundred day simple moving average of $9.37. The company has a quick ratio of 22.05, a current ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.02). The business had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative return on equity of 55.29% and a negative net margin of 755.11%.The business’s quarterly revenue was up 257493.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) earnings per share. On average, analysts expect that Joby Aviation, Inc. will post -1 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $7.73, for a total value of $110,075.20. Following the completion of the transaction, the insider owned 180,179 shares in the company, valued at approximately $1,392,783.67. This trade represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Rodrigo Brumana sold 78,489 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the sale, the chief financial officer directly owned 81,694 shares in the company, valued at $923,142.20. The trade was a 49.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 692,217 shares of company stock worth $7,551,000 in the last quarter. Company insiders own 20.35% of the company’s stock.

About Joby Aviation

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.