Moore Capital Management LP Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

Moore Capital Management LP acquired a new position in shares of Joby Aviation, Inc. (NYSE:JOBY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $406,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Rheos Capital Works Inc. increased its stake in shares of Joby Aviation by 17.0% in the 4th quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock valued at $19,553,000 after purchasing an additional 350,000 shares during the last quarter. Hamilton Lane Advisors LLC bought a new position in shares of Joby Aviation in the 4th quarter valued at $418,000. Entropy Technologies LP bought a new position in shares of Joby Aviation in the 4th quarter valued at $300,000. Raymond James Financial Inc. bought a new position in shares of Joby Aviation in the 4th quarter valued at $2,168,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock valued at $31,661,000 after purchasing an additional 361,520 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Bonny W. Simi sold 12,382 shares of the company’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $5.81, for a total value of $71,939.42. Following the sale, the insider now owns 203,588 shares in the company, valued at approximately $1,182,846.28. The trade was a 5.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul Cahill Sciarra sold 166,667 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares in the company, valued at $396,594,255.84. This trade represents a 0.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 669,802 shares of company stock worth $4,114,387. Insiders own 28.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JOBY. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. Finally, Canaccord Genuity Group raised their price objective on Joby Aviation from $11.50 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Joby Aviation Stock Up 2.6%

NYSE JOBY opened at $7.19 on Wednesday. Joby Aviation, Inc. has a twelve month low of $4.66 and a twelve month high of $10.72. The company has a market cap of $5.66 billion, a price-to-earnings ratio of -10.27 and a beta of 2.34. The business’s fifty day moving average is $6.22 and its 200 day moving average is $7.08.

Joby Aviation Company Profile

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.