Joby Aviation (NYSE:JOBY) Shares Up 6.1% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 6.1% during trading on Friday . The company traded as high as $9.23 and last traded at $9.20. Approximately 5,506,583 shares changed hands during trading, a decline of 64% from the average daily volume of 15,343,476 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

JOBY has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research note on Monday, September 30th. Needham & Company LLC raised their price target on Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $5.00 to $6.00 in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Stock Performance

The business has a fifty day moving average price of $8.09 and a 200 day moving average price of $6.39. The company has a market capitalization of $6.86 billion, a PE ratio of -12.80 and a beta of 2.33.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the business earned ($0.13) earnings per share. Research analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,005 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $7.65, for a total transaction of $45,938.25. Following the sale, the insider now directly owns 54,776 shares in the company, valued at approximately $419,036.40. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bonny W. Simi sold 31,489 shares of Joby Aviation stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.33, for a total value of $262,303.37. Following the sale, the insider now owns 137,097 shares in the company, valued at $1,142,018.01. This represents a 18.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 672,338 shares of company stock worth $5,864,050 in the last three months. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of JOBY. Larson Financial Group LLC increased its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after acquiring an additional 5,000 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Joby Aviation in the 3rd quarter worth approximately $51,000. Sound Income Strategies LLC grew its position in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Joby Aviation by 403.0% in the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after acquiring an additional 9,188 shares in the last quarter. 52.85% of the stock is currently owned by hedge funds and other institutional investors.

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.