Joby Aviation (NYSE:JOBY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Joby Aviation, Inc. (NYSE:JOBY) saw unusually-high trading volume on Thursday . Approximately 3,436,643 shares were traded during trading, a decline of 45% from the previous session’s volume of 6,222,771 shares.The stock last traded at $6.33 and had previously closed at $6.24.

Analyst Ratings Changes

Several research firms recently commented on JOBY. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a research note on Friday, October 4th.

Joby Aviation Stock Down 3.2 %

The company’s 50 day moving average price is $5.31 and its two-hundred day moving average price is $5.27.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now directly owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Joby Aviation in the 1st quarter worth $15,357,000. Ieq Capital LLC increased its holdings in shares of Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its position in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after acquiring an additional 616,579 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after purchasing an additional 435,069 shares during the period. Hedge funds and other institutional investors 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.