Joby Aviation (NYSE:JOBY) Trading Up 25%

Joby Aviation, Inc. (NYSE:JOBY) shares were up 25% on Wednesday . The stock traded as high as $6.14 and last traded at $6.00. Approximately 36,894,008 shares traded hands during mid-day trading, an increase of 551% from the average daily volume of 5,668,637 shares. The stock had previously closed at $4.80.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on JOBY shares. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Canaccord Genuity Group decreased their target price on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday.

Joby Aviation Stock Up 28.5 %

The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -7.89 and a beta of 1.97. The business has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $5.21.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 5,815 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Matthew Field sold 11,766 shares of Joby Aviation stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $5.17, for a total value of $60,830.22. Following the transaction, the insider now owns 299,880 shares in the company, valued at $1,550,379.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Insiders have sold a total of 74,165 shares of company stock valued at $397,190 in the last 90 days. 32.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Joby Aviation by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Joby Aviation during the first quarter valued at $15,357,000. Ieq Capital LLC grew its position in shares of Joby Aviation by 68.6% in the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after buying an additional 1,807,054 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in shares of Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after acquiring an additional 616,579 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position 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 valued at $7,521,000 after acquiring an additional 435,069 shares during the period. 45.54% of the stock is owned by 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.