Joby Aviation, Inc. (NYSE:JOBY) Short Interest Update

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 66,180,000 shares, a decline of 8.3% from the December 15th total of 72,190,000 shares. Approximately 15.0% of the shares of the stock are short sold. Based on an average trading volume of 18,960,000 shares, the days-to-cover ratio is presently 3.5 days.

Joby Aviation Stock Down 2.3 %

Joby Aviation stock traded down $0.20 during mid-day trading on Friday, hitting $8.18. 9,871,001 shares of the company's stock were exchanged, compared to its average volume of 17,184,500. Joby Aviation has a fifty-two week low of $4.50 and a fifty-two week high of $10.72. The company's 50 day simple moving average is $7.94 and its 200-day simple moving average is $6.32. The firm has a market capitalization of $6.25 billion, a P/E ratio of -11.68 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the company posted ($0.13) earnings per share. Research analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Gregory Bowles sold 7,748 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company's stock, valued at $236,218.80. This trade represents a 20.95 % 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 6,005 shares of the company's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 640,849 shares of company stock valued at $5,601,747 in the last three months. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its position in shares of Joby Aviation by 218.3% in the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after purchasing an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after buying an additional 5,000 shares during the last quarter. Empowered Funds LLC bought a new stake in Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC boosted its stake in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after buying an additional 10,000 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company's stock valued at $58,000 after acquiring an additional 9,188 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on JOBY shares. JPMorgan Chase & Co. cut Joby Aviation from a "neutral" rating to an "underweight" rating and raised their price target for the company from $5.00 to $6.00 in a report on Friday, January 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. Canaccord Genuity Group boosted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC raised their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, HC Wainwright reiterated a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Joby Aviation has a consensus rating of "Moderate Buy" and an average target price of $9.30.

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.