Joby Aviation (NYSE:JOBY) Trading 6% Higher – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 6% during trading on Monday . The stock traded as high as $16.16 and last traded at $15.80. 44,062,315 shares were traded during mid-day trading, an increase of 62% from the average session volume of 27,213,771 shares. The stock had previously closed at $14.90.

Analysts Set New Price Targets

Several research firms recently issued reports on JOBY. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a report on Wednesday, October 8th. HC Wainwright downgraded shares of Joby Aviation from a “buy” rating to a “neutral” rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price objective 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 reiterated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $14.00.

Joby Aviation Stock Performance

The firm has a market cap of $13.52 billion, a price-to-earnings ratio of -11.79 and a beta of 2.52. The stock’s fifty day moving average is $15.72 and its two-hundred day moving average is $12.90.

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

Insiders Place Their Bets

In related news, Director Paul Cahill Sciarra sold 500,001 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $14.30, for a total value of $7,150,014.30. Following the sale, the director directly owned 56,328,057 shares in the company, valued at $805,491,215.10. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Allison sold 27,537 shares of Joby Aviation stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.84, for a total value of $463,723.08. Following the sale, the insider directly owned 692,428 shares in the company, valued at $11,660,487.52. The trade was a 3.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,657,424 shares of company stock worth $25,068,869. 28.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently bought and sold shares of the stock. Asset Planning Inc increased its stake in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted 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 acquiring an additional 1,880 shares during the period. Canton Hathaway LLC bought a new position in shares of Joby Aviation in the third quarter valued at approximately $29,000. Hilltop National Bank acquired a new position in shares of Joby Aviation during the third quarter valued at approximately $32,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 32.0% during the second quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company’s stock worth $33,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds 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.