Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $4.86 and last traded at $4.92. 1,008,993 shares changed hands during trading, a decline of 82% from the average session volume of 5,509,766 shares. The stock had previously closed at $4.99.
Wall Street Analysts Forecast Growth
JOBY has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. HC Wainwright began coverage on Joby Aviation in a research report on Tuesday, September 3rd. They set a "buy" rating and a $9.00 price target on the stock. Canaccord Genuity Group decreased their price objective 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, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday.
Check Out Our Latest Stock Analysis on JOBY
Joby Aviation Stock Performance
The business has a 50 day moving average of $5.51 and a 200-day moving average of $5.23. The company has a market capitalization of $3.65 billion, a P/E ratio of -6.78 and a beta of 1.98.
Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 in the previous year, the company posted ($0.17) earnings per share. As a group, equities analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.
Insider Activity
In related news, insider Kate Dehoff sold 5,815 shares of the 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 sale, the insider now 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 is available at this link. In related news, insider Kate Dehoff sold 5,815 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 199,413 shares in the company, valued at $1,348,031.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Field sold 5,642 shares of the firm'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 transaction of $29,281.98. Following the completion of the sale, the insider now directly owns 294,238 shares in the company, valued at $1,527,095.22. The disclosure for this sale can be found here. Insiders sold 326,032 shares of company stock worth $1,613,336 in the last three months. Corporate insiders own 32.40% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. 8VC GP I LLC bought a new position in Joby Aviation during the fourth quarter valued at approximately $95,727,000. Vanguard Group Inc. grew 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 during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Joby Aviation in the 1st quarter worth $15,357,000. Ieq Capital LLC lifted its stake in Joby Aviation by 68.6% in the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company's stock worth $22,652,000 after purchasing an additional 1,807,054 shares during the last quarter. Finally, Lingotto Investment Management LLP boosted its position in Joby Aviation by 129.8% during the fourth quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company's stock valued at $13,892,000 after buying an additional 1,180,000 shares during the period. Institutional investors own 45.54% of the company's stock.
Joby Aviation Company Profile
(
Get Free Report)
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.
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