Joby Aviation (NYSE:JOBY) Trading 1% Higher – Here’s What Happened

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 1% on Friday . The company traded as high as $8.02 and last traded at $7.71. Approximately 5,451,181 shares were traded during trading, a decline of 36% from the average daily volume of 8,473,871 shares. The stock had previously closed at $7.63.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on JOBY shares. Needham & Company LLC started coverage on shares of Joby Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $8.00 price target for the company. Canaccord Genuity Group decreased their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a research report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Joby Aviation currently has an average rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Price Performance

The business has a fifty day moving average of $6.37 and a 200 day moving average of $5.68. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -11.01 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to the consensus estimate 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 in the previous year, the company earned ($0.13) EPS. On average, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 29,235 shares of the company’s stock, valued at $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 535,526 shares of company stock valued at $2,745,708 over the last 90 days. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in JOBY. Cetera Advisors LLC grew its stake in Joby Aviation by 32.9% in the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock valued at $109,000 after purchasing an additional 5,025 shares in the last quarter. SG Americas Securities LLC increased its position in Joby Aviation by 346.4% during the 2nd quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock worth $1,714,000 after purchasing an additional 260,780 shares in the last quarter. Integris Wealth Management LLC acquired a new position in Joby Aviation during the 2nd quarter worth approximately $54,000. Nisa Investment Advisors LLC grew its holdings in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares during the last quarter. Finally, Dakota Wealth Management bought a new stake in Joby Aviation during the 2nd quarter worth approximately $56,000. Institutional investors own 52.85% of the company’s stock.

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.