Joby Aviation (NYSE:JOBY) Trading Up 4.7% Following Analyst Upgrade

Joby Aviation, Inc. (NYSE:JOBY) traded up 4.7% during trading on Wednesday after Needham & Company LLC raised their price target on the stock from $8.00 to $10.00. Needham & Company LLC currently has a buy rating on the stock. Joby Aviation traded as high as $8.49 and last traded at $8.23. 5,609,354 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 18,065,621 shares. The stock had previously closed at $7.86.

JOBY has been the subject of a number of other reports. JPMorgan Chase & Co. cut Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group boosted their target price on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Insider Buying and Selling at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.00, for a total value of $2,666,656.00. Following the sale, the director now directly owns 58,994,729 shares in the company, valued at $471,957,832. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 7,692 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the sale, the insider now owns 50,902 shares in the company, valued at approximately $509,020. This trade represents a 13.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 638,982 shares of company stock valued at $5,586,157. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of the company. Yarbrough Capital LLC bought a new stake in shares of Joby Aviation in the fourth quarter valued at about $1,362,000. Bouvel Investment Partners LLC raised its holdings in Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after acquiring an additional 1,715 shares in the last quarter. Hamilton Lane Advisors LLC bought a new stake in Joby Aviation during the fourth quarter worth about $418,000. Salem Investment Counselors Inc. raised its holdings in Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC bought a new stake in Joby Aviation during the fourth quarter worth about $154,000. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Stock Up 3.1 %

The firm has a market cap of $6.20 billion, a P/E ratio of -11.57 and a beta of 2.33. The firm has a fifty day moving average of $7.81 and a 200-day moving average of $6.27.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same quarter in the previous year, the company posted ($0.13) EPS. On average, equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

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.