Joby Aviation (NYSE:JOBY) Trading Up 1% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 1% during trading on Thursday . The stock traded as high as $15.93 and last traded at $15.2730. Approximately 22,886,022 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 28,041,035 shares. The stock had previously closed at $15.12.

Analysts Set New Price Targets

JOBY has been the topic of several analyst reports. HC Wainwright restated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. The Goldman Sachs Group started coverage on Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 price target for the company. Morgan Stanley boosted their price objective on Joby Aviation from $7.00 to $15.00 and gave the stock 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 research note on Thursday, November 6th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $13.43.

Joby Aviation Trading Up 0.9%

The stock has a market cap of $14.06 billion, a PE ratio of -11.51 and a beta of 2.56. The business has a 50-day moving average price of $14.56 and a 200 day moving average price of $15.20.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. The business’s revenue for the quarter was up 7962.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.21) EPS. On average, equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 28,260 shares of the stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total transaction of $415,987.20. Following the sale, the insider owned 149,369 shares in the company, valued at $2,198,711.68. This represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Didier Papadopoulos sold 6,429 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $15.84, for a total value of $101,835.36. Following the completion of the transaction, the insider directly owned 113,718 shares of the company’s stock, valued at $1,801,293.12. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 289,556 shares of company stock worth $4,052,822 in the last ninety days. Insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Joby Aviation by 110.5% during the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock valued at $512,000 after buying an additional 44,659 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Joby Aviation in the first quarter valued at approximately $273,000. Strs Ohio bought a new position in shares of Joby Aviation in the first quarter valued at approximately $37,000. Wealth Enhancement Advisory Services LLC grew its stake in Joby Aviation by 63.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,788 shares of the company’s stock valued at $399,000 after acquiring an additional 14,676 shares in the last quarter. Finally, Cobblestone Asset Management LLC grew its stake in Joby Aviation by 4.6% during the second quarter. Cobblestone Asset Management LLC now owns 64,250 shares of the company’s stock valued at $678,000 after acquiring an additional 2,850 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.