Entropy Technologies LP Invests $848,000 in Joby Aviation, Inc. $JOBY

Entropy Technologies LP bought a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 1st quarter, HoldingsChannel.com reports. The firm bought 102,700 shares of the company’s stock, valued at approximately $848,000.

A number of other large investors have also recently made changes to their positions in JOBY. Fifth Third Bancorp boosted its holdings in shares of Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after acquiring an additional 1,348 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation in the fourth quarter valued at approximately $28,000. Pandora Wealth Inc. acquired a new position in shares of Joby Aviation in the fourth quarter valued at approximately $32,000. Finally, DV Equities LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $33,000. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Price Performance

Joby Aviation stock opened at $7.28 on Wednesday. The company has a market cap of $7.16 billion, a P/E ratio of -6.33 and a beta of 2.71. Joby Aviation, Inc. has a one year low of $6.89 and a one year high of $20.95. The business has a fifty day moving average of $9.20 and a two-hundred day moving average of $9.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the prior year, the company posted ($0.11) EPS. As a group, analysts predict that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Canaccord Genuity Group cut their price objective on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research report on Thursday, May 7th. Needham & Company LLC restated a “buy” rating and issued a $18.00 target price on shares of Joby Aviation in a research note on Wednesday, May 6th. Finally, Morgan Stanley lowered their target price on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.64.

Insider Activity

In other news, insider Kate Dehoff sold 14,240 shares of Joby Aviation stock in a transaction that occurred on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the completion of the sale, the insider directly owned 180,179 shares in the company, valued at approximately $1,392,783.67. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, CEO Joeben Bevirt sold 15,788 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $8.92, for a total value of $140,828.96. Following the sale, the chief executive officer directly owned 239,671 shares in the company, valued at $2,137,865.32. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,125,580 shares of company stock valued at $12,172,117 in the last quarter. 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.