IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New Investment in Joby Aviation, Inc. (NYSE:JOBY)

IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation, Inc. (NYSE:JOBY) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 11,173 shares of the company’s stock, valued at approximately $57,000.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. Integris Wealth Management LLC bought a new stake in Joby Aviation in the 2nd quarter worth approximately $54,000. Dakota Wealth Management purchased a new position in shares of Joby Aviation in the second quarter worth about $56,000. International Assets Investment Management LLC bought a new stake in Joby Aviation in the 4th quarter worth $73,000. Finally, Fullcircle Wealth LLC bought a new stake in Joby Aviation in the second quarter valued at $76,000. Institutional investors own 45.54% of the company’s stock.

Joby Aviation Stock Performance

Shares of JOBY stock traded down $0.13 during mid-day trading on Friday, hitting $5.01. 2,941,042 shares of the stock were exchanged, compared to its average volume of 5,531,654. Joby Aviation, Inc. has a 12-month low of $4.50 and a 12-month high of $7.69. The stock’s fifty day simple moving average is $5.52 and its two-hundred day simple moving average is $5.30. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -6.76 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the prior year, the business earned ($0.17) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the sale, the insider now owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares in the company, valued at approximately $265,676.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Field sold 5,642 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.19, for a total transaction of $29,281.98. Following the transaction, the insider now directly owns 294,238 shares in the company, valued at approximately $1,527,095.22. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock valued at $1,613,336 over the last 90 days. 32.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JOBY has been the subject of several analyst reports. Canaccord Genuity Group reduced their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th.

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.