Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares rose 4.3% during trading on Tuesday . The company traded as high as $10.72 and last traded at $10.25. Approximately 14,712,802 shares traded hands during trading, a decline of 20% from the average daily volume of 18,375,598 shares. The stock had previously closed at $9.83.
Wall Street Analyst Weigh In
JOBY has been the subject of a number of research reports. HC Wainwright reaffirmed 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 lowered their price target on Joby Aviation from $10.50 to $9.75 and set a "buy" rating for the company in a research report on Tuesday, October 29th. Needham & Company LLC initiated coverage on Joby Aviation in a report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.35.
Check Out Our Latest Report on JOBY
Joby Aviation Stock Performance
The company has a 50 day moving average of $7.27 and a two-hundred day moving average of $6.09. The stock has a market cap of $7.86 billion, a PE ratio of -14.67 and a beta of 2.33.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. During the same quarter last year, the firm posted ($0.13) earnings per share. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Insiders Place Their Bets
In other news, insider Eric Allison sold 27,817 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $5.56, for a total value of $154,662.52. Following the completion of the sale, the insider now directly owns 463,151 shares in the company, valued at $2,575,119.56. This represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kate Dehoff sold 27,898 shares of the company's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the sale, the insider now owns 199,413 shares of the company's stock, valued at $1,096,771.50. This trade represents a 12.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,468 shares of company stock worth $640,422. Corporate insiders own 32.40% of the company's stock.
Institutional Investors Weigh In On Joby Aviation
A number of large investors have recently made changes to their positions in the stock. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% in 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. Empowered Funds LLC acquired a new position in Joby Aviation in the third quarter valued at approximately $51,000. Sound Income Strategies LLC lifted its holdings in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock valued at $52,000 after acquiring an additional 10,000 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Joby Aviation by 403.0% in 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. Finally, Choreo LLC acquired a new position in Joby Aviation in the second quarter valued at approximately $60,000. 52.85% of the stock is currently owned by hedge funds and other 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.
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