Short Interest in Joby Aviation, Inc. (NYSE:JOBY) Drops By 8.3%

Joby Aviation, Inc. (NYSE:JOBY) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 66,180,000 shares, a decrease of 8.3% from the December 15th total of 72,190,000 shares. Based on an average daily volume of 18,960,000 shares, the short-interest ratio is presently 3.5 days. Currently, 15.0% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the completion of the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 23,886 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.08, for a total value of $192,998.88. Following the transaction, the chief executive officer now directly owns 768,293 shares in the company, valued at approximately $6,207,807.44. This represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 640,849 shares of company stock valued at $5,601,747 in the last three months. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently modified their holdings of JOBY. Larson Financial Group LLC raised its stake in 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 acquiring an additional 5,000 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Joby Aviation by 5,000.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in Joby Aviation during the 3rd quarter valued at about $51,000. Sound Income Strategies LLC boosted its position in Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after buying an additional 9,188 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

Shares of NYSE JOBY opened at $8.18 on Monday. Joby Aviation has a one year low of $4.50 and a one year high of $10.72. The business has a fifty day simple moving average of $7.94 and a 200 day simple moving average of $6.33.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The business had revenue of $0.28 million during 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 period last year, the company earned ($0.13) EPS. Analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Canaccord Genuity Group lifted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. Needham & Company LLC boosted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.30.

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.