Joby Aviation (NYSE:JOBY) Stock Price Up 1.5%

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price rose 1.5% on Tuesday . The stock traded as high as $5.43 and last traded at $5.40. Approximately 833,096 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,484,276 shares. The stock had previously closed at $5.32.

Analysts Set New Price Targets

A number of research firms recently issued reports on JOBY. Canaccord Genuity Group lowered their target price on Joby Aviation from $11.00 to $10.50 and set a "buy" rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. HC Wainwright began coverage on shares of Joby Aviation in a research note on Tuesday, September 3rd. They set a "buy" rating and a $9.00 target price for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 9th.

Joby Aviation Stock Performance

The stock has a 50 day moving average of $5.53 and a two-hundred day moving average of $5.22. The stock has a market cap of $3.77 billion, a PE ratio of -6.92 and a beta of 1.97.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.28 million. During the same period last year, the business earned ($0.17) earnings per share. Analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares of the company's stock, valued at approximately $265,676.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of the company's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $1,215,000.00. Following the transaction, the chief executive officer now directly owns 32,724,274 shares of the company's stock, valued at $159,039,971.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the sale, the insider now owns 54,666 shares of the company's stock, valued at $265,676.76. The disclosure for this sale can be found here. Insiders have sold a total of 327,840 shares of company stock valued at $1,624,660 in the last three months. 32.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of JOBY. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 9.1% during the 1st 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. 8VC GP I LLC acquired a new stake in shares of Joby Aviation in the fourth quarter worth about $95,727,000. Ieq Capital LLC boosted its stake in shares of Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock worth $22,652,000 after acquiring an additional 1,807,054 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Joby Aviation by 1.7% during the 4th 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. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Joby Aviation in the 1st quarter valued at approximately $15,357,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.