Joby Aviation (NYSE:JOBY) Trading 0.2% Higher

Joby Aviation, Inc. (NYSE:JOBY)’s share price rose 0.2% on Thursday . The stock traded as high as $5.22 and last traded at $5.06. Approximately 1,393,241 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 5,485,152 shares. The stock had previously closed at $5.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Canaccord Genuity Group decreased their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a report on Thursday, August 8th. HC Wainwright started coverage on Joby Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $9.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price 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.

Joby Aviation Trading Up 1.0 %

The firm has a market capitalization of $3.65 billion, a PE ratio of -6.66 and a beta of 1.97. The business’s 50 day simple moving average is $5.36 and its 200 day simple moving average is $5.21.

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

Insider Activity

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the company’s 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 transaction, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 199,413 shares in the company, valued at $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the transaction, the insider now owns 18,035 shares in the company, valued at $92,699.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 354,615 shares of company stock valued at $1,762,283. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. Vanguard Group Inc. boosted its position in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $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 in the first quarter valued at about $15,357,000. Ieq Capital LLC raised its holdings in Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after purchasing an additional 1,807,054 shares in the last quarter. Lingotto Investment Management LLP lifted its position in shares of Joby Aviation by 129.8% during the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock valued at $13,892,000 after buying an additional 1,180,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings 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 valued at $3,453,000 after buying an additional 616,579 shares in the last quarter. 45.54% of the stock is owned by hedge funds and other institutional investors.

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.