Joby Aviation (NYSE:JOBY) Trading Up 3.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s share price was up 3.7% during trading on Friday . The stock traded as high as $6.48 and last traded at $6.56. Approximately 4,709,208 shares traded hands during trading, a decline of 56% from the average daily volume of 10,603,933 shares. The stock had previously closed at $6.33.

Analyst Ratings Changes

Several equities analysts have recently commented on JOBY shares. Canaccord Genuity Group upped 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. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Trading Up 5.1 %

The stock’s 50-day moving average is $7.41 and its 200-day moving average is $6.87. The stock has a market cap of $5.24 billion, a P/E ratio of -9.51 and a beta of 2.35.

Insider Activity at Joby Aviation

In other news, CEO Joeben Bevirt sold 10,785 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the completion of the transaction, the chief executive officer now owns 793,036 shares in the company, valued at approximately $5,892,257.48. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kate Dehoff sold 6,903 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares of the company’s stock, valued at approximately $1,502,910.68. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,015,470 shares of company stock worth $8,600,479 in the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the business. Intech Investment Management LLC bought a new position in shares of Joby Aviation during the 3rd quarter valued at about $518,000. Rheos Capital Works Inc. boosted its holdings in shares of Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company’s stock worth $19,553,000 after buying an additional 350,000 shares during the period. Fred Alger Management LLC boosted its holdings in shares of Joby Aviation by 89.4% in the third quarter. Fred Alger Management LLC now owns 123,368 shares of the company’s stock worth $621,000 after buying an additional 58,229 shares during the period. Hamilton Lane Advisors LLC acquired a new position in shares of Joby Aviation in the fourth quarter worth about $418,000. Finally, Entropy Technologies LP acquired a new position in shares of Joby Aviation in the fourth quarter worth about $300,000. Institutional investors own 52.85% 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.