Joby Aviation (NYSE:JOBY) Stock Price Up 0.1% – Here’s What Happened

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 0.1% during mid-day trading on Wednesday . The company traded as high as $6.81 and last traded at $6.67. 2,487,626 shares were traded during trading, a decline of 77% from the average session volume of 10,664,734 shares. The stock had previously closed at $6.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Joby Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Stock Down 4.8 %

The firm has a market cap of $4.82 billion, a price-to-earnings ratio of -8.75 and a beta of 2.35. The stock’s 50-day moving average price is $7.29 and its 200 day moving average price is $6.91.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 7,692 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $10.00, for a total value of $76,920.00. Following the sale, the insider now owns 50,902 shares in the company, valued at approximately $509,020. The trade was a 13.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 6,205 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $8.10, for a total transaction of $50,260.50. Following the sale, the insider now owns 215,947 shares of the company’s stock, valued at $1,749,170.70. This trade represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,191,832 shares of company stock valued at $9,796,214. 32.40% of the stock is owned by corporate insiders.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in JOBY. Toyota Motor Corp acquired a new position in shares of Joby Aviation in the 4th quarter worth approximately $640,259,000. Baillie Gifford & Co. boosted its stake in Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock worth $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Joby Aviation by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company’s stock worth $380,163,000 after purchasing an additional 6,388,232 shares during the last quarter. Uber Technologies Inc bought a new position in shares of Joby Aviation in the fourth quarter valued at about $207,842,000. Finally, Geode Capital Management LLC lifted its position in Joby Aviation by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company’s stock worth $83,015,000 after buying an additional 817,638 shares in the last quarter. 52.85% of the stock is owned by institutional investors.

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.