Russell Investments Group Ltd. Has $3.15 Million Position in Joby Aviation, Inc. $JOBY

Russell Investments Group Ltd. boosted its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY) by 30.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 352,874 shares of the company’s stock after purchasing an additional 82,737 shares during the period. Russell Investments Group Ltd.’s holdings in Joby Aviation were worth $3,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after acquiring an additional 1,348 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Joby Aviation during the 4th quarter worth $28,000. Ancora Advisors LLC bought a new position in shares of Joby Aviation during the 3rd quarter valued at $35,000. Pandora Wealth Inc. bought a new position in shares of Joby Aviation during the 4th quarter valued at $32,000. Finally, DV Equities LLC acquired a new stake in shares of Joby Aviation in the 4th quarter valued at $33,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Susquehanna set a $18.00 price objective on shares of Joby Aviation in a 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. Barclays raised Joby Aviation to a “hold” rating in a research report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating on shares of Joby Aviation in a research note on Thursday, August 6th. Finally, Morgan Stanley decreased their price target on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Joby Aviation has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Price Performance

Shares of Joby Aviation stock opened at $7.92 on Friday. The firm has a fifty day simple moving average of $8.35 and a 200-day simple moving average of $9.37. The company has a current ratio of 17.98, a quick ratio of 22.05 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 1-year low of $6.63 and a 1-year high of $19.98. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of -8.00 and a beta of 2.73.

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

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 14,240 shares of the company’s stock in a transaction dated 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 $1,392,783.67. This represents a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, CFO Rodrigo Brumana sold 78,489 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $11.30, for a total transaction of $886,925.70. Following the sale, the chief financial officer owned 81,694 shares of the company’s stock, valued at $923,142.20. This trade represents a 49.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 692,217 shares of company stock worth $7,551,000. Insiders own 20.35% of the company’s stock.

Joby Aviation Company 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.