Joby Aviation (NYSE:JOBY) Shares Up 1.5%

Joby Aviation, Inc. (NYSE:JOBY) traded up 1.5% on Tuesday . The stock traded as high as $5.43 and last traded at $5.40. 833,096 shares traded hands during trading, a decline of 85% from the average session volume of 5,484,276 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

JOBY has been the topic of a number of research reports. Canaccord Genuity Group reduced their price objective on Joby Aviation from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Monday, September 9th. HC Wainwright assumed coverage on shares of Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th.

Joby Aviation Price Performance

The firm has a market cap of $3.77 billion, a P/E ratio of -7.11 and a beta of 1.97. The company has a fifty day moving average of $5.53 and a 200-day moving average of $5.22.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.28 million. During the same quarter in the previous year, the company posted ($0.17) EPS. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the sale, the insider now directly owns 199,413 shares in the company, valued at approximately $1,348,031.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Joby Aviation news, insider Matthew Field sold 5,642 shares of Joby Aviation stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.19, for a total transaction of $29,281.98. Following the sale, the insider now directly owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kate Dehoff sold 5,815 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the transaction, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders sold 321,815 shares of company stock valued at $1,592,547 over the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

A number of large investors have recently made changes to their positions in JOBY. Nisa Investment Advisors LLC boosted its holdings 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 worth $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new stake in Joby Aviation during the second quarter worth about $54,000. Dakota Wealth Management purchased a new stake in Joby Aviation in the 2nd quarter worth approximately $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Joby Aviation during the 2nd quarter valued at approximately $57,000. Finally, Choreo LLC acquired a new stake in shares of Joby Aviation in the second quarter valued at about $60,000. 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.