Kovack Advisors Inc. Cuts Stake in Joby Aviation, Inc. (NYSE:JOBY)

Kovack Advisors Inc. decreased its stake in Joby Aviation, Inc. (NYSE:JOBY) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,500 shares of the company’s stock after selling 2,000 shares during the period. Kovack Advisors Inc.’s holdings in Joby Aviation were worth $58,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the period. Sound Income Strategies LLC increased its position in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares during the last quarter. Integris Wealth Management LLC purchased a new position in Joby Aviation in the second quarter valued at about $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation during the 2nd quarter valued at approximately $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Joby Aviation during the 2nd quarter worth approximately $57,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 11.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Allison sold 27,817 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $5.56, for a total transaction of $154,662.52. Following the transaction, the insider now directly owns 463,151 shares of the company’s stock, valued at $2,575,119.56. The trade was a 5.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th.

Joby Aviation Stock Performance

Shares of NYSE:JOBY opened at $5.73 on Friday. The company’s fifty day moving average is $5.43 and its two-hundred day moving average is $5.34. Joby Aviation, Inc. has a 1-year low of $4.50 and a 1-year high of $7.69. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -8.19 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter last year, the company earned ($0.13) EPS. Sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Joby Aviation 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.