Joby Aviation (NYSE:JOBY) Shares Up 6.1% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 6.1% during mid-day trading on Friday . The stock traded as high as $9.23 and last traded at $9.20. Approximately 5,506,583 shares were traded during trading, a decline of 64% from the average daily volume of 15,343,476 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

JOBY has been the topic of several recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a report on Wednesday, January 8th. Needham & Company LLC upped their price objective on shares of Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $5.00 to $6.00 in a report on Friday, January 10th. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Trading Up 3.4 %

The company has a 50-day simple moving average of $8.09 and a 200 day simple moving average of $6.39. The firm has a market cap of $6.86 billion, a PE ratio of -12.80 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data 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 net margin of 42,844.57% and a negative return on equity of 51.76%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. During the same period in the prior year, the company posted ($0.13) earnings per share. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In related news, insider Bonny W. Simi sold 31,489 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.33, for a total transaction of $262,303.37. Following the completion of the transaction, the insider now directly owns 137,097 shares in the company, valued at $1,142,018.01. This trade represents a 18.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total value of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares of the company’s stock, valued at $471,957,832. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 672,338 shares of company stock worth $5,864,050. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in JOBY. Spire Wealth Management acquired a new stake in shares of Joby Aviation during the 4th quarter worth about $110,000. Flagship Harbor Advisors LLC grew its stake in shares of Joby Aviation by 51.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 30,476 shares of the company’s stock valued at $248,000 after purchasing an additional 10,370 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Joby Aviation by 111.3% in the 4th quarter. Sound Income Strategies LLC now owns 21,773 shares of the company’s stock valued at $177,000 after purchasing an additional 11,471 shares during the last quarter. GoalVest Advisory LLC purchased a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $146,000. Finally, SG Americas Securities LLC raised its position in Joby Aviation by 24.3% in the fourth quarter. SG Americas Securities LLC now owns 194,459 shares of the company’s stock worth $1,581,000 after acquiring an additional 37,956 shares in the last quarter. Hedge funds and other institutional investors 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.