Joby Aviation (NYSE:JOBY) Stock Price Up 5.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s share price traded up 5.5% during trading on Tuesday . The stock traded as high as $7.91 and last traded at $7.8950. 48,286,013 shares traded hands during trading, an increase of 57% from the average daily volume of 30,844,344 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

JOBY has been the subject of a number of analyst reports. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Canaccord Genuity Group lowered their price objective on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research note on Wednesday, May 6th. Weiss Ratings lowered Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Morgan Stanley decreased their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $13.64.

Joby Aviation Stock Up 5.5%

The stock has a market cap of $7.77 billion, a P/E ratio of -6.87 and a beta of 2.71. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $9.84 and its 200 day moving average is $10.51.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. The company had revenue of $24.25 million during the quarter, compared to analysts’ expectations of $20.17 million. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. During the same period in the prior year, the company earned ($0.11) earnings per share. As a group, equities research analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 421,019 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the completion of the sale, the chief executive officer owned 31,678,802 shares in the company, valued at $328,825,964.76. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the transaction, the director owned 55,911,391 shares of the company’s stock, valued at approximately $672,054,919.82. The trade was a 0.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,536,008 shares of company stock worth $15,951,263 in the last ninety days. 32.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds have recently made changes to their positions in JOBY. Strategic Advocates LLC acquired a new stake in Joby Aviation during the third quarter worth about $29,000. Fifth Third Bancorp increased its position in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Joby Aviation during the fourth quarter valued at approximately $28,000. Ancora Advisors LLC acquired a new position in shares of Joby Aviation in the third quarter valued at $35,000. Finally, Pandora Wealth Inc. bought a new position in Joby Aviation in the fourth quarter worth $32,000. Institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.