Joby Aviation (NYSE:JOBY) Trading Up 1.8% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY)’s share price was up 1.8% during mid-day trading on Friday . The company traded as high as $5.64 and last traded at $5.59. Approximately 964,652 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,055,900 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

Several equities research analysts have commented on JOBY shares. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a research report on Friday, October 4th.

Joby Aviation Stock Up 3.6 %

The business’s 50-day moving average price is $5.20 and its 200 day moving average price is $5.24. The company has a market capitalization of $4.07 billion, a P/E ratio of -11.61 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the business earned ($0.17) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Kate Dehoff sold 5,815 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the sale, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $1,212,500.00. Following the completion of the transaction, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 475,599 shares of company stock worth $2,398,359 over the last ninety days. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after acquiring an additional 5,840 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC purchased a new stake in Joby Aviation during the second quarter valued at about $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation during the second quarter valued at about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation during the second quarter valued at about $57,000. 45.54% of the stock is 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.