Joby Aviation (NYSE:JOBY) Trading Up 0.9% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 0.9% during trading on Monday . The stock traded as high as $10.05 and last traded at $9.86. Approximately 10,112,613 shares were traded during trading, a decline of 40% from the average daily volume of 16,774,855 shares. The stock had previously closed at $9.77.

Analyst Ratings Changes

JOBY has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Needham & Company LLC started coverage on Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Joby Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.70.

Joby Aviation Trading Down 7.3 %

The company has a market capitalization of $7.28 billion, a P/E ratio of -13.60 and a beta of 2.33. The company has a 50 day moving average price of $7.37 and a 200 day moving average price of $6.13.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.13) earnings per share. As a group, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 27,898 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the sale, the insider now directly owns 199,413 shares in the company, valued at approximately $1,096,771.50. The trade was a 12.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $9.84, for a total value of $2,460,000.00. Following the transaction, the chief executive officer now owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 355,160 shares of company stock valued at $3,177,342 in the last three months. 32.40% of the stock is currently owned by company insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently modified their holdings of the stock. Everence Capital Management Inc. acquired a new position in Joby Aviation in the fourth quarter valued at about $142,000. Tidal Investments LLC lifted its holdings in shares of Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock worth $147,000 after acquiring an additional 3,522 shares during the period. Geode Capital Management LLC boosted its position in shares of Joby Aviation by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Kensington Investment Counsel LLC increased its stake in Joby Aviation by 12.0% in the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company’s stock valued at $172,000 after acquiring an additional 3,653 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in Joby Aviation by 15.4% during the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock valued at $188,000 after purchasing an additional 5,000 shares in the last quarter. 52.85% of the stock is currently 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.