Joby Aviation (NYSE:JOBY) Stock Price Up 0.8% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s share price shot up 0.8% during mid-day trading on Wednesday . The company traded as high as $6.03 and last traded at $5.98. 3,698,544 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 10,837,967 shares. The stock had previously closed at $5.93.

Analysts Set New Price Targets

JOBY has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Joby Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Stock Performance

The firm has a fifty day moving average of $7.03 and a 200-day moving average of $6.93. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of -7.65 and a beta of 2.35.

Insider Transactions at Joby Aviation

In related news, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $9.84, for a total transaction of $2,460,000.00. Following the completion of the sale, the chief executive officer now directly owns 32,325,793 shares of the company’s stock, valued at approximately $318,085,803.12. This trade represents a 0.77 % decrease in their position. The transaction 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 business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.10, for a total transaction of $50,260.50. Following the completion of the transaction, the insider now owns 215,947 shares in the company, valued at $1,749,170.70. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,425,831 shares of company stock valued at $11,119,208 over the last quarter. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JOBY. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $38,000. Allworth Financial LP raised its holdings in Joby Aviation by 200.6% in the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation during the 4th quarter valued at $41,000. Toronto Dominion Bank acquired a new position in Joby Aviation during the 4th quarter worth $41,000. Finally, Carolinas Wealth Consulting LLC bought a new stake in shares of Joby Aviation in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 52.85% 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.