NBC Securities Inc. Boosts Stock Holdings in Joby Aviation, Inc. (NYSE:JOBY)

NBC Securities Inc. lifted its position in shares of Joby Aviation, Inc. (NYSE:JOBY) by 111,200.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,735 shares of the company’s stock after purchasing an additional 105,640 shares during the period. NBC Securities Inc.’s holdings in Joby Aviation were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of JOBY. Spire Wealth Management purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $110,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $466,000. Tyche Wealth Partners LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $135,000. Golden State Wealth Management LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $42,000. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Joby Aviation by 380.6% during the fourth quarter. Kingsview Wealth Management LLC now owns 74,006 shares of the company’s stock worth $602,000 after purchasing an additional 58,607 shares during the period. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $7.85 on Thursday. Joby Aviation, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $10.72. The company has a 50 day simple moving average of $6.54 and a two-hundred day simple moving average of $7.28. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -11.21 and a beta of 2.39.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JOBY has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Monday, May 5th. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $12.00 target price on shares of Joby Aviation in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

Insider Buying and Selling

In other news, insider Bonny W. Simi sold 9,695 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the sale, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. This trade represents a 6.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the sale, the director now owns 58,494,728 shares in the company, valued at $396,594,255.84. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 750,950 shares of company stock worth $4,640,619. 28.50% of the stock is owned by 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.