Joby Aviation, Inc. (NYSE:JOBY) Short Interest Down 6.2% in November

Joby Aviation, Inc. (NYSE:JOBY) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 73,190,000 shares, a decline of 6.2% from the October 31st total of 78,060,000 shares. Based on an average daily trading volume, of 13,960,000 shares, the short-interest ratio is currently 5.2 days. Currently, 16.8% of the company’s stock are short sold.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the completion of the transaction, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Bowles sold 26,775 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. The trade was a 59.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 535,526 shares of company stock worth $2,745,708. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Joby Aviation in the 3rd quarter valued at $518,000. Fred Alger Management LLC boosted its position in Joby Aviation by 89.4% during the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock valued at $621,000 after purchasing an additional 58,229 shares during the last quarter. Caprock Group LLC grew its position in shares of Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after acquiring an additional 79,896 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares during the period. Hedge funds and other institutional investors own 45.54% of the company’s stock.

Analyst Upgrades and Downgrades

JOBY has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC initiated coverage on Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. Canaccord Genuity Group reduced their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday, October 29th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.35.

Joby Aviation Trading Down 3.2 %

Shares of JOBY traded down $0.26 during mid-day trading on Tuesday, reaching $7.85. 20,315,551 shares of the company’s stock were exchanged, compared to its average volume of 8,232,974. Joby Aviation has a 52-week low of $4.50 and a 52-week high of $9.33. The company has a 50-day simple moving average of $5.90 and a two-hundred day simple moving average of $5.51.

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

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.