Joby Aviation, Inc. (NYSE:JOBY) Short Interest Down 8.3% in January

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

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 31,489 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now directly owns 137,097 shares in the company, valued at approximately $1,142,018.01. The trade was a 18.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory Bowles sold 7,748 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares in the company, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 672,338 shares of company stock worth $5,864,050 in the last quarter. Company insiders own 32.40% of the company's stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after purchasing an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation during the fourth quarter worth approximately $41,000. Salem Investment Counselors Inc. lifted its stake 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 purchasing an additional 5,000 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Joby Aviation during the fourth quarter worth approximately $42,000. Finally, Larson Financial Group LLC lifted its stake in Joby Aviation by 218.3% during 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 during the last quarter. 52.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on JOBY shares. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Needham & Company LLC lifted their target price on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and lifted their target price for the company from $5.00 to $6.00 in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.30.

Joby Aviation Price Performance

Shares of Joby Aviation stock traded up $0.04 on Friday, reaching $8.27. 11,699,914 shares of the company were exchanged, compared to its average volume of 13,296,786. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $10.72. The company has a market cap of $6.32 billion, a P/E ratio of -11.81 and a beta of 2.33. The stock's 50 day moving average price is $8.39 and its 200-day moving average price is $6.51.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) 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 company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. On average, research analysts predict that Joby Aviation will post -0.69 earnings per share for the current fiscal 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.