Entropy Technologies LP Acquires New Stake in Joby Aviation, Inc. (NYSE:JOBY)

Entropy Technologies LP acquired a new position in shares of Joby Aviation, Inc. (NYSE:JOBY - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 36,939 shares of the company's stock, valued at approximately $300,000.

Several other institutional investors have also modified their holdings of JOBY. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock valued at $47,245,000 after buying an additional 670,852 shares during the period. State Street Corp lifted its holdings in Joby Aviation by 9.5% in the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock valued at $47,144,000 after acquiring an additional 812,248 shares during the last quarter. Rheos Capital Works Inc. boosted its position in shares of Joby Aviation by 17.0% during 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 in the last quarter. Holocene Advisors LP grew its stake in shares of Joby Aviation by 91.7% in the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock worth $2,622,000 after purchasing an additional 249,375 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Joby Aviation by 15.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company's stock worth $1,342,000 after purchasing an additional 34,866 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

Joby Aviation Price Performance

Shares of JOBY stock traded up $0.28 during trading hours on Monday, reaching $7.86. 14,010,559 shares of the company were exchanged, compared to its average volume of 10,840,079. The stock's fifty day moving average is $8.30 and its two-hundred day moving average is $6.60. The company has a market cap of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33. Joby Aviation, Inc. has a fifty-two week low of $4.50 and a fifty-two week high of $10.72.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JOBY. HC Wainwright reissued a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a report on Wednesday, January 8th. Needham & Company LLC raised their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and raised their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $9.30.

Insider Activity

In other news, insider Kate Dehoff sold 6,903 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total value of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares in the company, valued at $1,502,910.68. This represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bonny W. Simi sold 31,489 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the sale, the insider now directly owns 137,097 shares in the company, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,025,284 shares of company stock valued at $8,683,241. 32.40% of the stock is currently 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.