Joby Aviation (NYSE:JOBY) Upgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. upgraded shares of Joby Aviation (NYSE:JOBY) from an underweight rating to a neutral rating in a research report sent to investors on Friday, MarketBeat.com reports. They currently have $5.00 price target on the stock.

Joby Aviation Stock Performance

NYSE JOBY remained flat at $5.38 on Friday. The company’s stock had a trading volume of 4,227,209 shares, compared to its average volume of 4,205,785. The firm has a fifty day moving average price of $5.12 and a 200-day moving average price of $5.73. Joby Aviation has a 52 week low of $4.06 and a 52 week high of $11.98. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -6.64 and a beta of 2.04.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, February 21st. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.02. The business had revenue of $1.03 million for the quarter, compared to analyst estimates of $1.50 million. During the same quarter in the previous year, the firm posted ($0.14) EPS. As a group, equities analysts expect that Joby Aviation will post -0.72 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul Cahill Sciarra sold 202,080 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.07, for a total value of $1,024,545.60. Following the sale, the director now owns 59,994,725 shares in the company, valued at approximately $304,173,255.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Paul Cahill Sciarra sold 202,080 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.07, for a total value of $1,024,545.60. Following the sale, the director now owns 59,994,725 shares in the company, valued at approximately $304,173,255.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $5.18, for a total value of $1,295,000.00. Following the sale, the chief executive officer now owns 32,774,274 shares in the company, valued at approximately $169,770,739.32. The disclosure for this sale can be found here. Insiders have sold a total of 550,832 shares of company stock worth $2,822,382 in the last quarter. Company insiders own 49.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in Joby Aviation by 84.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock valued at $1,084,000 after buying an additional 92,508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Joby Aviation by 215.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock valued at $1,965,000 after buying an additional 270,794 shares during the last quarter. Caprock Group LLC acquired a new stake in Joby Aviation during the 1st quarter valued at $239,000. Lingotto Investment Management LLP lifted its stake in shares of Joby Aviation by 129.8% during the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after purchasing an additional 1,180,000 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Joby Aviation during the 4th quarter worth $115,000. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.