Joby Aviation (NYSE:JOBY) Trading 0.4% Higher

Joby Aviation, Inc. (NYSE:JOBY) shares were up 0.4% during mid-day trading on Thursday . The stock traded as high as $5.02 and last traded at $4.90. Approximately 1,386,701 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,521,048 shares. The stock had previously closed at $4.88.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. 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 research report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Tuesday. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, HC Wainwright initiated coverage on shares of Joby Aviation in a report on Tuesday. They set a “buy” rating and a $9.00 price objective on the stock.

Joby Aviation Trading Down 0.8 %

The stock’s 50 day moving average price is $5.52 and its 200 day moving average price is $5.26. The company has a market cap of $3.47 billion, a price-to-earnings ratio of -6.45 and a beta of 1.98.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.28 million. During the same period last year, the firm posted ($0.17) EPS. On average, equities analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, insider Kate Dehoff sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total transaction of $68,750.00. Following the completion of the sale, the insider now directly owns 189,163 shares in the company, valued at $1,040,396.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Matthew Field sold 5,642 shares of the business’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 transaction of $29,281.98. Following the transaction, the insider now directly owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kate Dehoff sold 12,500 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $5.50, for a total transaction of $68,750.00. Following the completion of the sale, the insider now directly owns 189,163 shares of the company’s stock, valued at approximately $1,040,396.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,032 shares of company stock valued at $1,613,336. 32.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOBY. Nisa Investment Advisors LLC increased its stake in Joby Aviation by 216.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the period. Integris Wealth Management LLC acquired a new stake in shares of Joby Aviation during the second quarter valued at about $54,000. Dakota Wealth Management purchased a new stake in shares of Joby Aviation during the second quarter worth about $56,000. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Joby Aviation in the second quarter worth about $57,000. Finally, Choreo LLC purchased a new position in Joby Aviation in the second quarter valued at about $60,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.