Short Interest in Joby Aviation, Inc. (NYSE:JOBY) Increases By 6.7%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 79,100,000 shares, a growth of 6.7% from the July 31st total of 74,110,000 shares. Approximately 20.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,580,000 shares, the days-to-cover ratio is presently 12.0 days.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the firm's stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares in the company, valued at approximately $1,348,031.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the transaction, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now owns 199,413 shares of the company's stock, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $1,613,336 in the last quarter. 32.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Integris Wealth Management LLC bought a new position in shares of Joby Aviation in the 2nd quarter worth $54,000. Dakota Wealth Management bought a new position in shares of Joby Aviation in the 2nd quarter worth $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation in the 2nd quarter worth $57,000. Finally, Choreo LLC bought a new position in shares of Joby Aviation in the 2nd quarter worth $60,000. 45.54% of the stock is owned by institutional investors.

Joby Aviation Trading Down 2.7 %

Shares of JOBY stock traded down $0.14 on Monday, reaching $5.00. 5,227,900 shares of the company's stock were exchanged, compared to its average volume of 5,545,266. The company's fifty day simple moving average is $5.52 and its 200 day simple moving average is $5.28. The stock has a market capitalization of $3.54 billion, a PE ratio of -6.58 and a beta of 2.00. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period last year, the firm earned ($0.17) earnings per share. As a group, sell-side analysts predict that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on JOBY shares. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price target on shares of Joby Aviation in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their price target on Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Finally, Canaccord Genuity Group decreased their price target on Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a research note on Thursday, August 8th.

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.