Short Interest in Joby Aviation, Inc. (NYSE:JOBY) Increases By 6.1%

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 75,080,000 shares, an increase of 6.1% from the September 30th total of 70,740,000 shares. Based on an average trading volume of 7,920,000 shares, the days-to-cover ratio is presently 9.5 days. Currently, 19.5% of the shares of the company are sold short.

Joby Aviation Stock Performance

Shares of NYSE:JOBY traded down $0.19 during midday trading on Thursday, reaching $4.80. The company had a trading volume of 15,454,580 shares, compared to its average volume of 6,879,186. The company has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $5.28. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -9.80 and a beta of 1.97. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lowered their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 525,499 shares of company stock worth $2,667,151 in the last three months. 32.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Flaharty Asset Management LLC increased its holdings in shares of Joby Aviation by 25.0% in the 2nd quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after purchasing an additional 3,000 shares during the period. ProShare Advisors LLC increased its stake in Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after buying an additional 3,942 shares during the period. Amalgamated Bank lifted its position in Joby Aviation by 46.2% in the 2nd quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after buying an additional 4,391 shares in the last quarter. Cetera Advisors LLC lifted its position in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares during the period. Institutional investors and hedge funds own 45.54% 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.