Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price was up 0.6% on Thursday . The stock traded as high as $8.59 and last traded at $8.15. Approximately 5,282,139 shares traded hands during trading, a decline of 70% from the average daily volume of 17,526,049 shares. The stock had previously closed at $8.10.
Analyst Ratings Changes
A number of brokerages have issued reports on JOBY. JPMorgan Chase & Co. lowered Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their price target for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. HC Wainwright restated a "buy" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC raised their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.30.
Get Our Latest Analysis on JOBY
Joby Aviation Price Performance
The firm has a market capitalization of $6.52 billion, a price-to-earnings ratio of -12.16 and a beta of 2.33. The business has a 50 day moving average of $7.81 and a 200 day moving average of $6.27.
Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the firm posted ($0.13) EPS. On average, sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Gregory Bowles sold 7,748 shares of the company's stock in a transaction on Monday, November 25th. The stock was 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 directly owns 29,235 shares in the company, valued at approximately $236,218.80. This represents a 20.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now owns 54,776 shares of the company's stock, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 638,982 shares of company stock valued at $5,586,157 over the last 90 days. 32.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Larson Financial Group LLC boosted its position in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after acquiring an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Joby Aviation by 5,000.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new position in Joby Aviation during the 3rd quarter worth $51,000. Sound Income Strategies LLC grew its position in Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after purchasing an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Joby Aviation by 403.0% during the third 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 during the last quarter. 52.85% of the stock is owned by institutional investors.
About Joby Aviation
(
Get Free Report)
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.
Further Reading
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