Joby Aviation (NYSE:JOBY) Stock Price Up 0.8%

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 0.8% on Monday . The stock traded as high as $5.24 and last traded at $5.20. 833,595 shares traded hands during trading, a decline of 85% from the average session volume of 5,499,659 shares. The stock had previously closed at $5.16.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JOBY. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th. HC Wainwright initiated coverage on Joby Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price objective for the company. JPMorgan Chase & Co. increased their price target on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday.

Joby Aviation Price Performance

The firm has a market cap of $3.62 billion, a PE ratio of -6.84 and a beta of 1.97. The company’s 50 day moving average price is $5.48 and its 200 day moving average price is $5.22.

Joby Aviation (NYSE:JOBY) last posted its quarterly 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 for the quarter, compared to analyst estimates of $0.28 million. During the same quarter last year, the firm earned ($0.17) EPS. Sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares of the company’s stock, valued at $265,676.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction 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 transaction, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Didier Papadopoulos sold 23,188 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares of the company’s stock, valued at approximately $265,676.76. The disclosure for this sale can be found here. Insiders have sold 327,840 shares of company stock worth $1,624,660 over the last three months. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares in the last quarter. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation during the 2nd quarter worth $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the 2nd quarter worth about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the 2nd quarter valued at about $57,000. Finally, Choreo LLC acquired a new position in Joby Aviation during the second quarter worth about $60,000. 45.54% of the stock is owned by hedge funds and other institutional investors.

About Joby Aviation

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.