Joby Aviation (NYSE:JOBY) Trading Up 7.8% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 7.8% on Tuesday . The stock traded as high as $6.13 and last traded at $6.05. Approximately 7,676,399 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 7,445,854 shares. The stock had previously closed at $5.61.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JOBY. 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. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. Canaccord Genuity Group lowered their target price on Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC began coverage on shares of Joby Aviation in a report on Tuesday. They issued a “buy” rating and a $8.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.35.

Joby Aviation Stock Performance

The stock’s 50-day simple moving average is $5.48 and its two-hundred day simple moving average is $5.35. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of -8.86 and a beta of 1.97.

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 company 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 quarter in the prior year, the business earned ($0.13) earnings per share. As a group, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other news, 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 transaction of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gregory Bowles sold 26,775 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now owns 18,035 shares of the company’s stock, valued at $92,699.90. The trade was a 59.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 525,499 shares of company stock valued at $2,667,151 in the last ninety days. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently modified their holdings of JOBY. Susquehanna Fundamental Investments LLC increased its stake in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after buying an additional 616,579 shares during the last quarter. Rhumbline Advisers lifted its stake in Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock valued at $2,798,000 after acquiring an additional 115,483 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 2,889,012 shares during the last quarter. ProShare Advisors LLC lifted its stake in Joby Aviation by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after purchasing an additional 3,942 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in Joby Aviation by 32.9% during the first quarter. Cetera Advisors LLC now owns 20,276 shares of the company’s stock worth $109,000 after buying an additional 5,025 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors.

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.