Joby Aviation (NYSE:JOBY) Trading 0.5% Higher - What's Next?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price traded up 0.5% during trading on Friday . The stock traded as high as $6.57 and last traded at $6.51. 2,690,977 shares were traded during trading, a decline of 77% from the average session volume of 11,452,976 shares. The stock had previously closed at $6.48.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JOBY shares. JPMorgan Chase & Co. lowered their price target on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research report on Thursday, February 27th. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group raised their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.58.

Joby Aviation Stock Performance

The stock has a market cap of $5.12 billion, a PE ratio of -9.29 and a beta of 2.35. The company's 50-day moving average price is $6.28 and its 200 day moving average price is $7.01.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 6,903 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the transaction, the insider now owns 202,276 shares in the company, valued at approximately $1,502,910.68. This represents a 3.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $8.02, for a total value of $2,673,338.68. Following the completion of the sale, the director now directly owns 58,661,395 shares in the company, valued at $470,464,387.90. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,002,161 shares of company stock worth $6,781,863 in the last 90 days. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after buying an additional 5,015 shares in the last quarter. Whittier Trust Co. bought a new position in Joby Aviation during the fourth quarter valued at $38,000. 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 acquiring an additional 5,000 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the 4th quarter worth about $41,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation during the 4th quarter worth about $41,000. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.