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

Joby Aviation, Inc. (NYSE:JOBY)’s stock price shot up 1.2% on Thursday . The stock traded as high as $6.27 and last traded at $5.97. 6,176,316 shares were traded during trading, a decline of 16% from the average session volume of 7,373,026 shares. The stock had previously closed at $5.90.

Analysts Set New Price Targets

Several research firms have recently issued reports on JOBY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, October 2nd. Canaccord Genuity Group decreased their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Tuesday, October 29th.

Joby Aviation Stock Down 3.0 %

The firm’s 50 day simple moving average is $5.43 and its two-hundred day simple moving average is $5.34. The stock has a market capitalization of $4.10 billion, a P/E ratio of -8.19 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned ($0.13) earnings per share. As a group, equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 166,666 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total value of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the sale, the chief executive officer now owns 32,674,274 shares of the company’s stock, valued at $158,470,228.90. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock valued at $2,667,151 over the last ninety days. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Several institutional investors have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC increased its position in shares of 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 during the last quarter. Rhumbline Advisers increased its position in shares of Joby Aviation by 26.7% during the 2nd quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after purchasing an additional 115,483 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock worth $269,000 after buying an additional 3,942 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after buying an additional 5,025 shares during the period. 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.