Joby Aviation (NYSE:JOBY) Shares Up 1.2% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shot up 1.2% during trading on Monday . The company traded as high as $7.96 and last traded at $7.87. 5,696,867 shares traded hands during trading, a decline of 56% from the average session volume of 12,990,051 shares. The stock had previously closed at $7.78.

Analyst Ratings Changes

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

Joby Aviation Price Performance

The stock has a market cap of $5.61 billion, a P/E ratio of -10.47 and a beta of 2.33. The firm’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $6.57.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the sale, the director now owns 58,994,729 shares of the company’s stock, valued at approximately $471,957,832. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,005,672 shares of company stock valued at $8,537,389 in the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $1,110,000. Geode Capital Management LLC boosted its position in Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock valued at $83,015,000 after buying an additional 817,638 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Joby Aviation by 130.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 7,060 shares of the company’s stock worth $57,000 after acquiring an additional 4,000 shares during the last quarter. DnB Asset Management AS raised its stake in shares of Joby Aviation by 85.1% during the fourth quarter. DnB Asset Management AS now owns 214,584 shares of the company’s stock valued at $1,745,000 after acquiring an additional 98,678 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $2,786,000. 52.85% of the stock is owned by institutional investors.

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.