Joby Aviation (NYSE:JOBY) Shares Up 5.7%

Joby Aviation, Inc. (NYSE:JOBY) traded up 5.7% during mid-day trading on Thursday . The stock traded as high as $5.23 and last traded at $5.19. 2,032,882 shares were traded during trading, a decline of 64% from the average session volume of 5,595,655 shares. The stock had previously closed at $4.91.

Wall Street Analyst Weigh In

JOBY has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Canaccord Genuity Group cut their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Thursday.

Joby Aviation Stock Performance

The firm’s 50 day moving average is $5.50 and its 200-day moving average is $5.36. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of -6.61 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Joby Aviation, Inc. will post -0.71 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, insider Matthew Field sold 5,642 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total value of $29,281.98. Following the sale, the insider now owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Matthew Field sold 5,642 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $5.19, for a total value of $29,281.98. Following the sale, the insider now directly owns 294,238 shares in the company, valued at approximately $1,527,095.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total value of $68,750.00. Following the completion of the sale, the insider now directly owns 189,163 shares in the company, valued at approximately $1,040,396.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,395 shares of company stock worth $1,699,082. 32.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in shares of Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Integris Wealth Management LLC bought a new position in Joby Aviation in the 2nd quarter valued at $54,000. Dakota Wealth Management acquired a new stake in shares of Joby Aviation in the 2nd quarter valued at $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of Joby Aviation during the second quarter worth $57,000. Finally, Choreo LLC acquired a new position in shares of Joby Aviation during the second quarter valued at $60,000. Institutional investors and hedge funds own 45.54% 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.