Joby Aviation (NYSE:JOBY) Shares Up 0.5% - What's Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 0.5% on Tuesday . The company traded as high as $8.18 and last traded at $8.02. Approximately 6,479,155 shares changed hands during trading, a decline of 24% from the average daily volume of 8,574,196 shares. The stock had previously closed at $7.98.

Wall Street Analyst Weigh In

JOBY has been the topic of several recent analyst reports. Needham & Company LLC began coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 29th. Canaccord Genuity Group cut their price objective on Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a research note on Tuesday, October 29th. HC Wainwright reiterated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.35.

Joby Aviation Stock Up 3.3 %

The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of -11.77 and a beta of 2.32. The stock has a 50 day simple moving average of $6.50 and a 200 day simple moving average of $5.76.

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

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the completion of the transaction, the insider now owns 18,035 shares in the company, valued at approximately $92,699.90. The trade was a 59.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares in the company, valued at $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 535,506 shares of company stock worth $2,759,533. 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 bought and sold shares of the stock. Flaharty Asset Management LLC increased its stake in shares of Joby Aviation by 25.0% during the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company's stock valued at $76,000 after acquiring an additional 3,000 shares during the period. Tidal Investments LLC raised its holdings in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock worth $147,000 after purchasing an additional 3,522 shares in the last quarter. Kensington Investment Counsel LLC lifted its stake in Joby Aviation by 12.0% during the third quarter. Kensington Investment Counsel LLC now owns 34,099 shares of the company's stock valued at $172,000 after purchasing an additional 3,653 shares during the last quarter. Amalgamated Bank boosted its holdings in Joby Aviation by 46.2% during the second quarter. Amalgamated Bank now owns 13,905 shares of the company's stock worth $71,000 after buying an additional 4,391 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 52.85% of the company's stock.

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.