Joby Aviation (NYSE:JOBY) Trading Up 2.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 2.7% during trading on Friday . The stock traded as high as $6.12 and last traded at $5.76. Approximately 7,145,192 shares changed hands during trading, an increase of 20% from the average daily volume of 5,961,400 shares. The stock had previously closed at $5.61.

Analyst Ratings Changes

JOBY has been the subject of several analyst reports. JPMorgan Chase & Co. lifted 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. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $10.50 price objective on shares of Joby Aviation in a report on Friday.

Joby Aviation Stock Up 5.3 %

The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -7.71 and a beta of 1.97. The stock’s fifty day moving average is $5.22 and its 200-day moving average is $5.22.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same period in the previous year, the firm posted ($0.17) EPS. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, insider Matthew Field sold 5,642 shares of the company’s stock in a transaction dated 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 directly owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Paul Cahill Sciarra sold 166,666 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at approximately $308,114,503.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 5,642 shares of the 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 transaction, the insider now owns 294,238 shares in the company, valued at approximately $1,527,095.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 481,976 shares of company stock valued at $2,424,045 over the last 90 days. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new position in Joby Aviation during the 2nd quarter worth $54,000. Dakota Wealth Management bought a new position in Joby Aviation during the 2nd quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation in the 2nd quarter valued at $57,000. Finally, Choreo LLC bought a new position in shares of Joby Aviation in the 2nd quarter valued at $60,000. 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.