Joby Aviation, Inc. (NYSE:JOBY) Short Interest Down 6.2% in November

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 73,190,000 shares, a drop of 6.2% from the October 31st total of 78,060,000 shares. Approximately 16.8% of the shares of the company are sold short. Based on an average daily volume of 13,960,000 shares, the days-to-cover ratio is currently 5.2 days.

Joby Aviation Stock Down 3.2 %

Joby Aviation stock traded down $0.26 during mid-day trading on Tuesday, hitting $7.85. The company had a trading volume of 20,509,379 shares, compared to its average volume of 8,234,072. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of -11.21 and a beta of 2.32. Joby Aviation has a 1 year low of $4.50 and a 1 year high of $9.33. The business has a fifty day moving average of $5.96 and a 200 day moving average of $5.53.

Joby Aviation (NYSE:JOBY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Equities analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on JOBY. JPMorgan Chase & Co. reduced their price target on Joby Aviation from $6.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, October 29th. HC Wainwright restated a "buy" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a "buy" rating on the stock in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th. Finally, Needham & Company LLC initiated coverage on Joby Aviation in a research report on Tuesday, November 19th. They issued a "buy" rating and a $8.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $8.35.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Matthew Field sold 5,643 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the transaction, the insider now owns 293,143 shares in the company, valued at approximately $1,747,132.28. This trade represents a 1.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gregory Bowles sold 7,748 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the transaction, the insider now owns 29,235 shares in the company, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 535,526 shares of company stock valued at $2,745,708 in the last 90 days. 32.40% of the stock is currently owned by company insiders.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in JOBY. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company's stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company's stock worth $44,000 after buying an additional 5,840 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Joby Aviation during the third quarter worth about $51,000. Sound Income Strategies LLC grew its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company's stock worth $52,000 after buying an additional 10,000 shares during the last quarter. Finally, Integris Wealth Management LLC purchased a new position in shares of Joby Aviation during the second quarter worth about $54,000. Institutional investors and hedge funds 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.