Joby Aviation (NYSE:JOBY) Trading Up 3.8% – Here’s What Happened

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 3.8% on Friday . The stock traded as high as $5.76 and last traded at $5.72. 2,131,572 shares traded hands during trading, a decline of 65% from the average session volume of 6,048,525 shares. The stock had previously closed at $5.51.

Analyst Ratings Changes

JOBY has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday, September 30th.

Joby Aviation Stock Performance

The company has a market capitalization of $3.97 billion, a P/E ratio of -7.38 and a beta of 1.97. The stock’s fifty day moving average price is $5.25 and its 200-day moving average price is $5.25.

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, meeting the consensus estimate of ($0.18). The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction dated 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 owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the transaction, the insider now owns 18,035 shares in the company, valued at $92,699.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew Field sold 5,643 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock valued at $2,667,151 over the last ninety days. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its stake in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after buying an additional 5,840 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation during the second quarter worth $54,000. Dakota Wealth Management bought a new position in Joby Aviation during the second quarter worth $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Joby Aviation during the second quarter valued at $57,000. 45.54% of the stock is currently owned by institutional investors and hedge funds.

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.