Joby Aviation (NYSE:JOBY) Trading Up 0.3% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 0.3% during mid-day trading on Wednesday . The company traded as high as $8.12 and last traded at $8.05. 2,324,208 shares traded hands during trading, a decline of 83% from the average session volume of 13,393,235 shares. The stock had previously closed at $8.02.

Analyst Ratings Changes

JOBY has been the topic of several research reports. 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. Needham & Company LLC upped their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Finally, Canaccord Genuity Group raised their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Joby Aviation Trading Down 1.5 %

The stock has a market capitalization of $5.93 billion, a P/E ratio of -11.06 and a beta of 2.33. The business has a 50-day moving average price of $8.39 and a two-hundred day moving average price of $6.54.

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

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation 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 sale, the insider now directly owns 54,776 shares of the company’s stock, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total transaction of $192,998.88. Following the completion of the transaction, the chief executive officer now directly owns 768,293 shares of the company’s stock, valued at approximately $6,207,807.44. The trade was a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,005,672 shares of company stock worth $8,537,389 over the last three months. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of JOBY. Larson Financial Group LLC grew its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of Joby Aviation in the fourth quarter valued at approximately $41,000. Golden State Wealth Management LLC bought a new position in Joby Aviation in the 4th quarter valued at approximately $42,000. Finally, Allworth Financial LP boosted its position in Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after buying an additional 3,320 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.