Joby Aviation (NYSE:JOBY) Sees Unusually-High Trading Volume - What's Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) saw strong trading volume on Monday . 5,365,316 shares traded hands during trading, a decline of 37% from the previous session's volume of 8,501,820 shares.The stock last traded at $7.59 and had previously closed at $7.78.

Analysts Set New Price Targets

Several research firms recently commented on JOBY. Canaccord Genuity Group dropped their price objective on Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lowered their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 29th. HC Wainwright restated a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, Needham & Company LLC initiated coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They set a "buy" rating and a $8.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Joby Aviation presently has an average rating of "Moderate Buy" and a consensus target price of $8.35.

Joby Aviation Price Performance

The firm has a market cap of $6.10 billion, a PE ratio of -10.97 and a beta of 2.32. The business has a 50-day simple moving average of $6.41 and a 200 day simple moving average of $5.71.

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

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the business's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the sale, the director now directly owns 59,828,059 shares of the company's stock, valued at $308,114,503.85. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregory Bowles sold 26,775 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total value of $137,623.50. Following the completion of the sale, the insider now directly owns 18,035 shares of the company's stock, valued at $92,699.90. The trade was a 59.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 529,501 shares of company stock valued at $2,713,595. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of JOBY. Ieq Capital LLC raised its holdings in shares of 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 buying an additional 1,807,054 shares during the period. State Street Corp boosted its stake in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company's stock valued at $47,144,000 after purchasing an additional 812,248 shares during the period. Geode Capital Management LLC grew its holdings in shares of Joby Aviation by 7.7% in the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock worth $47,245,000 after purchasing an additional 670,852 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Joby Aviation by 1,018.5% during 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. Finally, Bank of New York Mellon Corp grew its stake in Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company's stock worth $7,521,000 after acquiring an additional 435,069 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.