Joby Aviation, Inc. (NYSE:JOBY) Insider Gregory Bowles Sells 26,775 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Gregory Bowles sold 26,775 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Joby Aviation Stock Performance

NYSE:JOBY traded up $0.02 during mid-day trading on Tuesday, hitting $5.15. The stock had a trading volume of 4,778,914 shares, compared to its average volume of 5,510,563. The company’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $5.21. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of -6.77 and a beta of 1.97. Joby Aviation, Inc. has a twelve month low of $4.50 and a twelve month high of $7.69.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake in Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation during the second quarter worth $54,000. Dakota Wealth Management bought a new stake in shares of Joby Aviation in the second quarter valued at about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Joby Aviation in the second quarter valued at about $57,000. Finally, Choreo LLC bought a new position in Joby Aviation during the second quarter worth about $60,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on JOBY. 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 note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday. Canaccord Genuity Group reduced their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, HC Wainwright initiated coverage on Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target for the company.

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.