Joby Aviation (NYSE:JOBY) Shares Up 0.5% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 0.5% during mid-day trading on Monday . The company traded as high as $5.94 and last traded at $5.64. Approximately 3,721,357 shares changed hands during trading, a decline of 39% from the average daily volume of 6,057,595 shares. The stock had previously closed at $5.61.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on JOBY shares. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a report on Friday, October 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a report on Wednesday, October 2nd.

Joby Aviation Stock Up 1.0 %

The firm has a 50 day moving average of $5.28 and a two-hundred day moving average of $5.26. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -8.22 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kate Dehoff sold 27,898 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now owns 199,413 shares in the company, valued at $1,096,771.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the completion of the transaction, the insider now owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joeben Bevirt sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $4.85, for a total transaction of $1,212,500.00. Following the sale, the chief executive officer now directly owns 32,674,274 shares in the company, valued at $158,470,228.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Joby Aviation by 9.1% during the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after buying an additional 2,889,012 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Joby Aviation by 68.6% in the 2nd 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. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Joby Aviation during the 1st quarter valued at about $15,357,000. Bank of New York Mellon Corp grew its stake in Joby Aviation by 41.8% during the second quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock worth $7,521,000 after purchasing an additional 435,069 shares during the period. Finally, Susquehanna Fundamental Investments LLC increased its holdings in Joby Aviation by 1,018.5% in the second quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock worth $3,453,000 after purchasing an additional 616,579 shares in the last quarter. 45.54% of the stock is currently owned by 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.