Joby Aviation (NYSE:JOBY) Shares Up 0.1% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 0.1% during trading on Wednesday . The stock traded as high as $6.81 and last traded at $6.67. 2,487,626 shares traded hands during trading, a decline of 77% from the average session volume of 10,664,734 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group raised their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Trading Down 4.8 %

The company has a market cap of $4.82 billion, a price-to-earnings ratio of -8.75 and a beta of 2.35. The business’s 50 day moving average price is $7.29 and its 200-day moving average price is $6.91.

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 9,695 shares of Joby Aviation stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the sale, the insider now directly owns 146,941 shares in the company, valued at $996,259.98. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the sale, the insider now directly owns 50,902 shares of the company’s stock, valued at approximately $509,020. The trade was a 13.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,191,832 shares of company stock valued at $9,796,214. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new position in shares of Joby Aviation in the third quarter worth about $518,000. Larson Financial Group LLC increased its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in Joby Aviation in the 3rd quarter worth approximately $79,000. Verition Fund Management LLC raised its stake in shares of Joby Aviation by 118.9% during the third quarter. Verition Fund Management LLC now owns 78,339 shares of the company’s stock valued at $394,000 after acquiring an additional 42,544 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in Joby Aviation by 89.4% in the 3rd 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. 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.