Joby Aviation, Inc. (NYSE:JOBY) Short Interest Update

Joby Aviation, Inc. (NYSE:JOBY) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 75,080,000 shares, an increase of 6.1% from the September 30th total of 70,740,000 shares. Approximately 19.5% of the company’s stock are sold short. Based on an average trading volume of 7,920,000 shares, the days-to-cover ratio is presently 9.5 days.

Joby Aviation Stock Down 3.8 %

JOBY stock traded down $0.19 during trading on Thursday, hitting $4.80. 15,454,580 shares of the company’s stock traded hands, compared to its average volume of 6,879,186. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of -9.80 and a beta of 1.97. Joby Aviation has a 52 week low of $4.50 and a 52 week high of $7.69. The stock has a fifty day moving average price of $5.31 and a two-hundred day moving average price of $5.28.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same period in the prior year, the company earned ($0.17) EPS. As a group, equities research analysts expect that Joby Aviation 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 firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the completion of the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Joby Aviation news, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total value of $137,623.50. Following the transaction, the insider now directly owns 18,035 shares of the company’s stock, valued at $92,699.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kate Dehoff sold 27,898 shares of the 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 transaction, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,096,771.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 525,499 shares of company stock worth $2,667,151 in the last 90 days. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Joby Aviation by 9.1% during the 1st 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 grew its position in shares of Joby Aviation by 68.6% during the second quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock worth $22,652,000 after acquiring an additional 1,807,054 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Joby Aviation in the 1st quarter worth about $15,357,000. Bank of New York Mellon Corp lifted its position in Joby Aviation by 41.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,474,677 shares of the company’s stock valued at $7,521,000 after purchasing an additional 435,069 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its stake in Joby Aviation by 1,018.5% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after purchasing an additional 616,579 shares during the period. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on JOBY shares. JPMorgan Chase & Co. reduced their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group cut their price objective on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research note on Tuesday.

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.