Joby Aviation (NYSE:JOBY) Trading Up 1.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares were up 1.5% during trading on Wednesday . The company traded as high as $14.32 and last traded at $14.1440. Approximately 10,846,359 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 26,962,826 shares. The stock had previously closed at $13.94.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Joby Aviation from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Morgan Stanley lifted their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Joby Aviation in a report on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Joby Aviation currently has an average rating of “Reduce” and a consensus price target of $14.00.

Joby Aviation Trading Up 1.5%

The business’s 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $13.57. The firm has a market capitalization of $12.90 billion, a P/E ratio of -10.56 and a beta of 2.52.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.48) 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 analysts’ expectations of $0.02 million. During the same quarter last year, the firm posted ($0.21) EPS. The firm’s revenue was up 7962.1% on a year-over-year basis. Analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other news, Director Paul Cahill Sciarra sold 500,001 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $14.30, for a total transaction of $7,150,014.30. Following the transaction, the director directly owned 56,328,057 shares of the company’s stock, valued at $805,491,215.10. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $16.84, for a total value of $463,723.08. Following the completion of the sale, the insider owned 692,428 shares of the company’s stock, valued at $11,660,487.52. The trade was a 3.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,154,802 shares of company stock valued at $17,844,775. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Asset Planning Inc grew 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 worth $27,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after buying an additional 1,880 shares during the last quarter. Canton Hathaway LLC purchased a new position in shares of Joby Aviation in the 3rd quarter worth $29,000. Strategic Advocates LLC bought a new stake in shares of Joby Aviation in the third quarter worth $29,000. Finally, Hilltop National Bank purchased a new stake in Joby Aviation during the third quarter valued at $32,000. 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.