Joby Aviation (NYSE:JOBY) Shares Up 10.4% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 10.4% during trading on Thursday . The stock traded as high as $9.18 and last traded at $9.12. Approximately 10,354,681 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 8,889,174 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JOBY. JPMorgan Chase & Co. decreased their price objective on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Needham & Company LLC initiated coverage on shares of Joby Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $8.00 target price on the stock. Canaccord Genuity Group reduced their price objective on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.35.

Joby Aviation Stock Up 10.4 %

The stock’s 50 day moving average price is $6.77 and its 200-day moving average price is $5.87. The stock has a market capitalization of $6.98 billion, a P/E ratio of -13.03 and a beta of 2.32.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same period in the previous year, the firm posted ($0.13) earnings per share. Analysts anticipate 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 6,005 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory Bowles sold 7,748 shares of Joby Aviation stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,731 shares of company stock valued at $2,621,909 over the last 90 days. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC raised its position in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after buying an additional 5,000 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Joby Aviation during the 3rd quarter valued at about $51,000. Sound Income Strategies LLC lifted its holdings in Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation in the 2nd quarter valued at about $57,000. Finally, International Assets Investment Management LLC increased its stake in Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after buying an additional 9,188 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.