Joby Aviation (NYSE:JOBY) Trading 2.7% Higher

Joby Aviation, Inc. (NYSE:JOBY) was up 2.7% on Thursday . The stock traded as high as $5.43 and last traded at $5.34. Approximately 1,094,915 shares were traded during trading, a decline of 80% from the average daily volume of 5,479,713 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JOBY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 9th. HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group decreased their price objective on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a report on Thursday, August 8th.

Joby Aviation Trading Down 0.4 %

The firm has a 50-day moving average of $5.48 and a two-hundred day moving average of $5.22. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -6.79 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The business 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 company posted ($0.17) earnings per share. As a group, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, insider Matthew Field sold 11,766 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $5.17, for a total value of $60,830.22. Following the completion of the sale, the insider now owns 299,880 shares in the company, valued at $1,550,379.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Matthew Field sold 11,766 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $5.17, for a total transaction of $60,830.22. Following the sale, the insider now directly owns 299,880 shares in the company, valued at $1,550,379.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now directly owns 54,666 shares of the company’s stock, valued at $265,676.76. The disclosure for this sale can be found here. Insiders have sold 327,840 shares of company stock worth $1,624,660 in the last ninety days. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several institutional investors have recently made changes to their positions in the business. 8VC GP I LLC acquired a new stake in Joby Aviation during the fourth quarter valued at approximately $95,727,000. Vanguard Group Inc. grew its position in Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after acquiring an additional 2,889,012 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Joby Aviation during the first quarter worth $15,357,000. Ieq Capital LLC grew 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 purchasing an additional 1,807,054 shares during the last quarter. Finally, Lingotto Investment Management LLP increased its position in shares of Joby Aviation by 129.8% during the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after purchasing an additional 1,180,000 shares in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.