Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 3.4% during mid-day trading on Thursday . The company traded as low as $5.78 and last traded at $6.05. Approximately 3,139,879 shares changed hands during trading, a decline of 72% from the average daily volume of 11,122,205 shares. The stock had previously closed at $6.26.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on JOBY. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group upped 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. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday. Finally, HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Joby Aviation currently has an average rating of "Moderate Buy" and an average price target of $8.58.
View Our Latest Stock Report on JOBY
Joby Aviation Stock Performance
The company has a market capitalization of $4.74 billion, a PE ratio of -8.60 and a beta of 2.35. The firm's 50-day simple moving average is $6.62 and its 200 day simple moving average is $6.97.
Insider Activity at Joby Aviation
In other news, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the transaction, the chief executive officer now directly owns 793,036 shares in the company, valued at $5,892,257.48. This represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 31,489 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the transaction, the insider now directly owns 137,097 shares of the company's stock, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 832,073 shares of company stock valued at $5,885,469 in the last ninety days. Corporate insiders own 32.40% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the company. State Street Corp boosted its position in Joby Aviation by 9.5% during the 3rd quarter. State Street Corp now owns 9,372,636 shares of the company's stock worth $47,144,000 after purchasing an additional 812,248 shares during the period. EP Wealth Advisors LLC lifted its position in Joby Aviation by 15.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company's stock worth $188,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company's stock worth $47,245,000 after acquiring an additional 670,852 shares during the period. Tidal Investments LLC grew its position in Joby Aviation by 13.7% in the third quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock valued at $147,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Joby Aviation during the fourth quarter worth $142,000. 52.85% of the stock is owned by hedge funds and other institutional investors.
About Joby Aviation
(
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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.
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