Joby Aviation (NYSE:JOBY) Trading Up 1.4% - Here's What Happened

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 1.4% during mid-day trading on Friday . The stock traded as high as $8.68 and last traded at $8.49. 3,891,786 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 16,900,525 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

Several equities analysts recently commented on the company. 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. HC Wainwright reissued a "buy" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Needham & Company LLC raised their price target on shares of Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and raised their target price for the company from $5.00 to $6.00 in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.30.

Joby Aviation Stock Down 2.3 %

The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -11.68 and a beta of 2.33. The company's 50-day simple moving average is $7.94 and its 200-day simple moving average is $6.31.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) earnings per share (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 company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the previous year, the firm posted ($0.13) EPS. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the transaction, the chief executive officer now owns 32,325,793 shares of the company's stock, valued at $318,085,803.12. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of Joby Aviation stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 640,849 shares of company stock valued at $5,601,747. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Salem Investment Counselors Inc. raised its stake 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. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Joby Aviation during the 3rd quarter worth about $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after acquiring an additional 10,000 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Joby Aviation by 403.0% during the 3rd 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 in the last quarter. Institutional investors own 52.85% of the company's stock.

Joby Aviation Company Profile

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.