Joby Aviation (NYSE:JOBY) Shares Gap Up to $4.80

Joby Aviation, Inc. (NYSE:JOBY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.80, but opened at $5.55. Joby Aviation shares last traded at $5.46, with a volume of 17,999,996 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on JOBY. HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday. Canaccord Genuity Group reduced their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective 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 Stock Performance

The business has a 50 day simple moving average of $5.23 and a 200-day simple moving average of $5.21. The firm has a market capitalization of $4.16 billion, a price-to-earnings ratio of -7.89 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (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 in the previous year, the business posted ($0.17) earnings per share. Equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was 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 $1,527,095.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Joby Aviation news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the transaction, the insider now directly 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 SEC, which is accessible through this hyperlink. Also, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $5.50, for a total transaction of $68,750.00. Following the sale, the insider now owns 189,163 shares in the company, valued at $1,040,396.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,165 shares of company stock worth $397,190. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position 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 during the last quarter. Integris Wealth Management LLC purchased a new position in Joby Aviation in the second quarter valued at $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation in the second quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in Joby Aviation during the 2nd quarter worth about $57,000. Finally, Choreo LLC purchased a new stake in Joby Aviation during the second quarter worth approximately $60,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.