Joby Aviation (NYSE:JOBY) Stock Price Up 3%

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded up 3% during trading on Thursday . The company traded as high as $5.11 and last traded at $5.09. 931,734 shares were traded during trading, a decline of 83% from the average session volume of 5,508,860 shares. The stock had previously closed at $4.94.

Analyst Upgrades and Downgrades

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

Joby Aviation Stock Up 4.1 %

The company has a market cap of $3.64 billion, a PE ratio of -6.77 and a beta of 2.00. The stock has a 50-day moving average of $5.52 and a 200-day moving average of $5.30.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter last year, the business posted ($0.17) EPS. Research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 5,815 shares of the company's stock in a transaction on Monday, July 15th. The shares were 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 directly owns 199,413 shares in the company, valued at $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Matthew Field sold 5,642 shares of the business's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the completion of the sale, the insider now directly owns 294,238 shares in the company, valued at approximately $1,527,095.22. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now directly owns 199,413 shares in the company, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $1,613,336 in the last quarter. Corporate insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its stake in shares of Joby Aviation by 8.1% in the fourth quarter. New York State Common Retirement Fund now owns 114,331 shares of the company's stock worth $760,000 after buying an additional 8,595 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company's stock valued at $25,394,000 after acquiring an additional 64,404 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Joby Aviation during the fourth quarter valued at about $77,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Joby Aviation by 215.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company's stock worth $1,965,000 after purchasing an additional 270,794 shares during the period. Finally, Apollon Wealth Management LLC bought a new stake in shares of Joby Aviation in the fourth quarter worth about $88,000. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

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.