Joby Aviation (NYSE:JOBY) Trading Up 2.7%

Joby Aviation, Inc. (NYSE:JOBY) shares were up 2.7% during mid-day trading on Thursday . The company traded as high as $5.43 and last traded at $5.34. Approximately 1,094,915 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 5,479,713 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on JOBY. Canaccord Genuity Group lowered their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a report on Monday, September 9th. HC Wainwright initiated coverage on Joby Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Trading Down 1.0 %

The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -7.03 and a beta of 1.97. The firm’s fifty day moving average price is $5.53 and its 200 day moving average price is $5.22.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same quarter last year, the company earned ($0.17) earnings per share. On average, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction that occurred 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 directly owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the sale, the chief executive officer now directly owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares in the company, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders sold a total of 327,840 shares of company stock valued at $1,624,660 in the last three months. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds have recently made changes to their positions in the company. Flaharty Asset Management LLC raised its holdings in shares of Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock valued at $76,000 after buying an additional 3,000 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Joby Aviation by 8.5% in the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after acquiring an additional 3,942 shares in the last quarter. Amalgamated Bank increased its stake in shares of Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company’s stock worth $71,000 after acquiring an additional 4,391 shares during the period. Janney Montgomery Scott LLC lifted its position in Joby Aviation by 4.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 109,715 shares of the company’s stock valued at $730,000 after purchasing an additional 4,445 shares during the period. Finally, Cetera Advisors LLC boosted its holdings in Joby Aviation by 32.9% in the 1st quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares in the last quarter. Hedge funds and other institutional investors 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.