Joby Aviation (NYSE:JOBY) Shares Up 5.5%

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 5.5% during trading on Friday . The stock traded as high as $5.41 and last traded at $5.39. 2,840,264 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 5,488,463 shares. The stock had previously closed at $5.11.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Monday. Canaccord Genuity Group reduced their price target 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 started coverage on shares of Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Joby Aviation Trading Up 2.2 %

The company has a market capitalization of $3.74 billion, a PE ratio of -7.09 and a beta of 1.97. The business’s 50-day simple moving average is $5.32 and its 200-day simple moving average is $5.21.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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 period in the previous year, the business earned ($0.17) EPS. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the sale, the insider now owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the sale, the insider now owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. The disclosure for this sale can be found here. Insiders have sold 354,615 shares of company stock valued at $1,762,283 in the last 90 days. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after purchasing an additional 2,889,012 shares during the last quarter. Ieq Capital LLC boosted its stake in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Joby Aviation during the 1st quarter worth $15,357,000. Lingotto Investment Management LLP boosted its stake in Joby Aviation by 129.8% during the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after purchasing an additional 1,180,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Joby Aviation by 41.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

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.