Joby Aviation (NYSE:JOBY) Trading 3.6% Higher - Here's What Happened

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) rose 3.6% on Monday . The company traded as high as $7.91 and last traded at $7.86. Approximately 14,010,559 shares changed hands during trading, an increase of 29% from the average daily volume of 10,840,079 shares. The stock had previously closed at $7.58.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded Joby Aviation from a "neutral" rating to an "underweight" rating and lifted their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. Needham & Company LLC lifted their price objective on Joby Aviation from $8.00 to $10.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. 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 report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, Joby Aviation presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.30.

Joby Aviation Price Performance

The business's 50 day moving average price is $8.27 and its 200-day moving average price is $6.64. The company has a market cap of $5.72 billion, a P/E ratio of -10.68 and a beta of 2.33.

Insider Activity

In related news, insider Didier Papadopoulos sold 7,692 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the completion of the transaction, the insider now owns 50,902 shares in the company, valued at $509,020. The trade was a 13.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business's stock in a transaction that occurred 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 of the company's stock, 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 90 days, insiders sold 1,023,005 shares of company stock worth $8,667,288. Insiders own 32.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its position 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 valued at $37,000 after acquiring an additional 5,000 shares during the last quarter. Whittier Trust Co. bought a new stake in shares of Joby Aviation during the 4th quarter valued at $38,000. Salem Investment Counselors Inc. raised its position in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Joby Aviation during the 4th quarter valued at $41,000. Finally, Toronto Dominion Bank bought a new stake in shares of Joby Aviation during the 4th quarter valued at $41,000. 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.