Joby Aviation (NYSE:JOBY) Trading Up 1.5%

Joby Aviation, Inc. (NYSE:JOBY) shot up 1.5% during trading on Tuesday . The company traded as high as $5.43 and last traded at $5.40. 833,096 shares changed hands during trading, a decline of 85% from the average session volume of 5,484,276 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JOBY. JPMorgan Chase & Co. increased their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity Group lowered their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 9th. Finally, HC Wainwright started coverage on Joby Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 target price on the stock.

Joby Aviation Trading Down 1.1 %

The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -6.84 and a beta of 1.97. The stock has a fifty day simple moving average of $5.53 and a 200-day simple moving average of $5.22.

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

Insider Transactions at Joby Aviation

In related news, insider Matthew Field sold 5,642 shares of the firm’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 transaction of $29,281.98. Following the completion of the transaction, the insider now owns 294,238 shares in the company, valued at approximately $1,527,095.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction on Monday, July 8th. The shares were 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 owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,840 shares of company stock valued at $1,624,660. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of JOBY. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new stake in Joby Aviation in the second quarter valued at approximately $54,000. Dakota Wealth Management bought a new stake in Joby Aviation in the 2nd quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation during the 2nd quarter worth about $57,000. Finally, Private Advisor Group LLC acquired a new stake in Joby Aviation during the fourth quarter worth approximately $77,000. Institutional investors own 45.54% of the company’s stock.

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.