Joby Aviation (NYSE:JOBY) Stock Price Up 1.5% - Here's What Happened

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 1.5% during trading on Tuesday . The stock traded as high as $8.25 and last traded at $8.18. 3,997,669 shares were traded during trading, a decline of 71% from the average session volume of 13,628,622 shares. The stock had previously closed at $8.06.

Analyst Ratings Changes

Several research analysts have recently weighed in on JOBY shares. JPMorgan Chase & Co. cut shares of Joby Aviation from a "neutral" rating to an "underweight" rating and boosted their price target for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Needham & Company LLC lifted their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, December 18th. One research 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 company has an average rating of "Moderate Buy" and a consensus target price of $9.30.

Joby Aviation Stock Performance

The business's 50 day moving average price is $8.36 and its 200-day moving average price is $6.55. The firm has a market capitalization of $5.93 billion, a PE ratio of -11.06 and a beta of 2.33.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results 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 firm had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.06 million. During the same period in the previous year, the firm earned ($0.13) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This represents a 0.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bonny W. Simi sold 31,489 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares of the company's stock, valued at $1,142,018.01. This represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,005,672 shares of company stock worth $8,537,389. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Large investors have recently bought and sold shares of the stock. Bouvel Investment Partners LLC increased its stake in shares of Joby Aviation by 1.4% during the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock worth $1,007,000 after buying an additional 1,715 shares during the period. Private Advisor Group LLC increased its position in shares of Joby Aviation by 6.6% in the 4th quarter. Private Advisor Group LLC now owns 36,774 shares of the company's stock valued at $299,000 after purchasing an additional 2,261 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Joby Aviation by 35.3% in the 4th quarter. Larson Financial Group LLC now owns 9,864 shares of the company's stock valued at $80,000 after purchasing an additional 2,574 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Joby Aviation by 32.7% during the 4th quarter. Empowered Funds LLC now owns 13,409 shares of the company's stock worth $109,000 after purchasing an additional 3,308 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company's stock worth $44,000 after purchasing an additional 3,320 shares in the last quarter. Hedge funds and other 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.