Joby Aviation (NYSE:JOBY) Trading 2.6% Higher

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 2.6% during trading on Wednesday . The stock traded as high as $5.06 and last traded at $5.05. Approximately 1,351,735 shares traded hands during trading, a decline of 76% from the average daily volume of 5,527,798 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JOBY shares. JPMorgan Chase & Co. lifted their price target on Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Canaccord Genuity Group dropped their target price on shares of Joby Aviation from $11.00 to $10.50 and set a "buy" rating for the company in a research note on Thursday, August 8th. HC Wainwright initiated coverage on shares of Joby Aviation in a research note on Tuesday. They set a "buy" rating and a $9.00 price target on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price objective on shares of Joby Aviation in a research report on Tuesday.

Joby Aviation Stock Performance

The company has a market cap of $3.50 billion, a price-to-earnings ratio of -6.64 and a beta of 1.98. The firm's 50-day moving average price is $5.52 and its 200 day moving average price is $5.26.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts' consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 5,815 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 199,413 shares of the company's stock, valued at approximately $1,348,031.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Kate Dehoff sold 5,815 shares of the business'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 owns 199,413 shares of the company's stock, valued at approximately $1,348,031.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,032 shares of company stock valued at $1,613,336. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Several institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its stake in 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 purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new stake in Joby Aviation in the 2nd quarter valued at approximately $54,000. Dakota Wealth Management bought a new stake in Joby Aviation in the 2nd quarter valued at approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of Joby Aviation during the 2nd quarter worth approximately $57,000. Finally, Choreo LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at approximately $60,000. Institutional investors own 45.54% 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.