Joby Aviation (NYSE:JOBY) Trading Up 1.1% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) rose 1.1% during trading on Wednesday . The stock traded as high as $6.59 and last traded at $6.25. Approximately 10,377,198 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 6,200,235 shares. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

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

Joby Aviation Stock Performance

The firm’s fifty day moving average price is $5.32 and its 200 day moving average price is $5.28. The firm has a market cap of $4.32 billion, a P/E ratio of -12.31 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period in the previous year, the business earned ($0.17) earnings per share. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 27,898 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Joby Aviation 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 sale, the insider now directly owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 525,499 shares of company stock valued at $2,667,151. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently added to or reduced their stakes in JOBY. Nisa Investment Advisors LLC raised its position in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Sound Income Strategies LLC grew its stake in Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC acquired a new position in shares of Joby Aviation in the second quarter valued at about $54,000. Dakota Wealth Management purchased a new position in shares of Joby Aviation in the second quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation during the second quarter worth about $57,000. 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.