Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price traded up 0.6% during mid-day trading on Thursday . The company traded as high as $8.59 and last traded at $8.15. 5,282,139 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 17,526,049 shares. The stock had previously closed at $8.10.
Analysts Set New Price Targets
Several research firms have issued reports on JOBY. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a "neutral" rating to an "underweight" rating and increased their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. 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 note on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright restated a "buy" rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Finally, Needham & Company LLC boosted their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Joby Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $9.30.
Get Our Latest Stock Report on Joby Aviation
Joby Aviation Stock Performance
The stock's 50 day simple moving average is $7.94 and its two-hundred day simple moving average is $6.32. The firm has a market capitalization of $6.25 billion, a PE ratio of -11.68 and a beta of 2.33.
Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business posted ($0.13) EPS. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.
Insider Activity
In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the completion of the sale, the insider now owns 54,776 shares of the company's stock, valued at $419,036.40. This trade represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory Bowles sold 7,748 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 640,849 shares of company stock valued at $5,601,747. 32.40% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Joby Aviation
Institutional investors have recently modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in Joby Aviation during the 4th quarter worth approximately $146,000. SG Americas Securities LLC raised its stake in shares of Joby Aviation by 24.3% in the fourth quarter. SG Americas Securities LLC now owns 194,459 shares of the company's stock valued at $1,581,000 after acquiring an additional 37,956 shares in the last quarter. Monterey Private Wealth Inc. purchased a new position in Joby Aviation in the fourth quarter valued at $102,000. Yarbrough Capital LLC acquired a new position in Joby Aviation during the 4th quarter worth $1,362,000. Finally, Bouvel Investment Partners LLC increased its holdings in Joby Aviation by 1.4% during the 4th quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company's stock worth $1,007,000 after purchasing an additional 1,715 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.
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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