Joby Aviation (NYSE:JOBY) Sees Strong Trading Volume – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) saw unusually-strong trading volume on Thursday . Approximately 3,436,643 shares changed hands during mid-day trading, a decline of 45% from the previous session’s volume of 6,222,771 shares.The stock last traded at $6.33 and had previously closed at $6.24.

Wall Street Analyst Weigh In

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

Joby Aviation Stock Performance

The stock has a market capitalization of $3.69 billion, a PE ratio of -10.51 and a beta of 1.97. The stock’s 50 day moving average is $5.32 and its two-hundred day moving average is $5.28.

Joby Aviation (NYSE:JOBY) last announced 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 prior year, the company posted ($0.17) EPS. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the sale, the insider now directly owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Eric Allison sold 27,817 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $5.56, for a total transaction of $154,662.52. Following the sale, the insider now owns 463,151 shares of the company’s stock, valued at approximately $2,575,119.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now directly owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew 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 buying an additional 5,840 shares during the last quarter. Sound Income Strategies LLC grew its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after purchasing an additional 10,000 shares during the last quarter. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation during the second quarter worth about $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation in the 2nd quarter valued at about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors 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.