Joby Aviation (NYSE:JOBY) Trading Up 4.2%

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 4.2% during trading on Monday . The stock traded as high as $4.99 and last traded at $4.97. Approximately 1,194,406 shares changed hands during trading, a decline of 78% from the average daily volume of 5,515,239 shares. The stock had previously closed at $4.77.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JOBY. Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 price target on shares of Joby Aviation in a research note on Monday. HC Wainwright assumed coverage on shares of Joby Aviation in a report on Tuesday, September 3rd. They set a "buy" rating and a $9.00 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group cut their price target on Joby Aviation from $11.00 to $10.50 and set a "buy" rating on the stock in a research note on Thursday, August 8th.

Joby Aviation Stock Up 4.8 %

The firm's fifty day moving average price is $5.51 and its 200-day moving average price is $5.23. The stock has a market cap of $3.58 billion, a P/E ratio of -6.49 and a beta of 1.98.

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 for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 5,815 shares of the company'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 transaction, the insider now owns 199,413 shares of the company's stock, valued at $1,348,031.88. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Joby Aviation news, insider Matthew Field sold 5,642 shares of the firm's stock in a transaction on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the completion of the sale, the insider now owns 294,238 shares of the company's stock, valued at $1,527,095.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 199,413 shares of the company's stock, valued at $1,348,031.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,032 shares of company stock valued at $1,613,336. Corporate insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. 8VC GP I LLC bought a new position in Joby Aviation in the 4th quarter worth about $95,727,000. Vanguard Group Inc. grew its stake in Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company's stock valued at $185,776,000 after purchasing an additional 2,889,012 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Joby Aviation during the 1st quarter valued at $15,357,000. Ieq Capital LLC raised its position in shares of Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock valued at $22,652,000 after purchasing an additional 1,807,054 shares during the period. Finally, Lingotto Investment Management LLP boosted its position in shares of Joby Aviation by 129.8% in the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company's stock valued at $13,892,000 after acquiring an additional 1,180,000 shares during the period. 45.54% 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.