Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) rose 0.8% during trading on Wednesday . The stock traded as high as $6.03 and last traded at $5.98. Approximately 3,698,544 shares changed hands during trading, a decline of 66% from the average daily volume of 10,837,967 shares. The stock had previously closed at $5.93.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group upped their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $8.90.
Read Our Latest Research Report on Joby Aviation
Joby Aviation Stock Performance
The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -7.65 and a beta of 2.35. The firm's 50-day simple moving average is $6.96 and its 200-day simple moving average is $6.93.
Insider Activity
In other news, insider Kate Dehoff sold 6,205 shares of the business's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $8.10, for a total value of $50,260.50. Following the transaction, the insider now directly owns 215,947 shares of the company's stock, valued at $1,749,170.70. The trade was a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the transaction, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,425,831 shares of company stock worth $11,119,208. Company insiders own 32.40% of the company's stock.
Institutional Investors Weigh In On Joby Aviation
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rheos Capital Works Inc. lifted its holdings in Joby Aviation by 17.0% in the fourth quarter. Rheos Capital Works Inc. now owns 2,405,000 shares of the company's stock valued at $19,553,000 after buying an additional 350,000 shares during the period. Hamilton Lane Advisors LLC acquired a new position in shares of Joby Aviation during the fourth quarter worth about $418,000. Entropy Technologies LP bought a new position in shares of Joby Aviation during the 4th quarter worth approximately $300,000. Holocene Advisors LP grew its position in Joby Aviation by 91.7% in the third quarter. Holocene Advisors LP now owns 521,327 shares of the company's stock valued at $2,622,000 after purchasing an additional 249,375 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Joby Aviation in the 4th quarter valued at about $2,168,000. Institutional investors and hedge funds own 52.85% of the company's stock.
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.
Read More
Before you consider Joby Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Joby Aviation wasn't on the list.
While Joby Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
