Joby Aviation (NYSE:JOBY) Trading Up 5.1% – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 5.1% during trading on Thursday . The stock traded as high as $14.20 and last traded at $13.87. 21,580,322 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 26,278,865 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of research firms have issued reports on JOBY. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Finally, Zacks Research upgraded shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of “Reduce” and an average target price of $13.43.

Joby Aviation Price Performance

The stock has a market cap of $12.65 billion, a price-to-earnings ratio of -10.35 and a beta of 2.53. The stock’s 50 day simple moving average is $15.26 and its two-hundred day simple moving average is $14.35.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. During the same period last year, the company posted ($0.21) EPS. The business’s quarterly revenue was up 7962.1% on a year-over-year basis. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Joby Aviation news, insider Didier Papadopoulos sold 15,439 shares of Joby Aviation stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $16.78, for a total transaction of $259,066.42. Following the completion of the transaction, the insider directly owned 103,206 shares of the company’s stock, valued at approximately $1,731,796.68. This trade represents a 13.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Bowles sold 12,900 shares of the business’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $15.75, for a total transaction of $203,175.00. Following the completion of the sale, the insider owned 153,280 shares in the company, valued at $2,414,160. This represents a 7.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 654,801 shares of company stock valued at $10,697,118. 28.50% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Large investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of Joby Aviation by 8.1% in the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after buying an additional 689 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after acquiring an additional 697 shares in the last quarter. Asset Planning Inc increased its position in Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Joby Aviation by 4.6% in the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after acquiring an additional 736 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Joby Aviation by 11.9% during the second quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock worth $76,000 after purchasing an additional 763 shares in the last quarter. 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.