Joby Aviation (NYSE:JOBY) Trading Up 4.3% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) was up 4.3% during trading on Tuesday . The stock traded as high as $10.72 and last traded at $10.25. Approximately 14,712,802 shares changed hands during trading, a decline of 20% from the average daily volume of 18,375,598 shares. The stock had previously closed at $9.83.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JOBY. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday. 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 issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Finally, Needham & Company LLC started coverage on Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Joby Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.70.

Joby Aviation Trading Down 7.3 %

The business has a 50-day moving average of $7.46 and a 200 day moving average of $6.15. The firm has a market capitalization of $7.28 billion, a PE ratio of -13.60 and a beta of 2.33.

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

Insider Activity at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred 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 represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 355,160 shares of company stock valued at $3,177,342. 32.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after purchasing an additional 670,852 shares in the last quarter. State Street Corp increased its position in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the period. Ieq Capital LLC lifted its holdings in shares of Joby Aviation by 68.6% in the second 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 in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Joby Aviation by 41.8% in 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 acquiring an additional 435,069 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its stake in Joby Aviation by 1,018.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.