Joby Aviation (NYSE:JOBY) Trading 1.5% Higher - Here's Why

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC raised their target price on Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. JPMorgan Chase & Co. cut Joby Aviation from a "neutral" rating to an "underweight" rating and raised their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. Finally, Canaccord Genuity Group lifted their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, Joby Aviation has an average rating of "Moderate Buy" and a consensus target price of $9.30.

Joby Aviation Stock Performance

The stock has a market capitalization of $5.93 billion, a PE ratio of -11.06 and a beta of 2.33. The stock has a 50-day moving average price of $8.39 and a two-hundred day moving average price of $6.54.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.06 million. During the same period in the prior year, the firm posted ($0.13) earnings per share. As a group, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paul Cahill Sciarra sold 333,334 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the transaction, the director now owns 58,661,395 shares of the company's stock, valued at approximately $470,464,387.90. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bonny W. Simi sold 31,489 shares of the business'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 value of $262,303.37. Following the transaction, the insider now directly owns 137,097 shares in the company, valued at approximately $1,142,018.01. This represents a 18.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,005,672 shares of company stock valued at $8,537,389 in the last quarter. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Miller Financial Services LLC bought a new position in Joby Aviation in the 4th quarter valued at $114,000. Independent Advisor Alliance lifted its holdings in shares of Joby Aviation by 18.4% in the 4th quarter. Independent Advisor Alliance now owns 22,350 shares of the company's stock worth $182,000 after buying an additional 3,481 shares during the period. AlphaQuest LLC purchased a new stake in shares of Joby Aviation in the 4th quarter worth $200,000. Larson Financial Group LLC lifted its holdings 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 worth $80,000 after buying an additional 2,574 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Joby Aviation in the 4th quarter worth $2,168,000. 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.