Joby Aviation (NYSE:JOBY) Stock Price Up 1.8% – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 1.8% on Thursday . The stock traded as high as $10.29 and last traded at $10.2760. 14,246,967 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 30,059,482 shares. The stock had previously closed at $10.09.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. The Goldman Sachs Group assumed coverage on Joby Aviation in a report on Monday, December 1st. They issued a “sell” rating and a $10.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a report on Thursday, November 6th. Canaccord Genuity Group reissued a “hold” rating and set a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $13.21.

Joby Aviation Price Performance

The stock has a fifty day moving average of $13.20 and a 200 day moving average of $14.74. The firm has a market capitalization of $9.37 billion, a P/E ratio of -7.67 and a beta of 2.57.

Insider Activity at Joby Aviation

In related news, insider Kate Dehoff sold 28,260 shares of the stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $14.72, for a total transaction of $415,987.20. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at approximately $2,198,711.68. This represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Allison sold 32,448 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total transaction of $429,936.00. Following the sale, the insider owned 659,980 shares of the company’s stock, valued at $8,744,735. This trade represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,463,528 shares of company stock valued at $16,054,224 over the last quarter. Corporate insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

A number of large investors have recently bought and sold shares of the company. CWM LLC boosted its stake in Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after buying an additional 689 shares during the period. GPS Wealth Strategies Group LLC lifted its position in Joby Aviation by 22.5% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after purchasing an additional 697 shares during the last quarter. Asset Planning Inc increased its holdings in shares of Joby Aviation by 70.0% in the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the last quarter. GoalVest Advisory LLC raised its position in shares of Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after buying an additional 700 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after acquiring an additional 736 shares during the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.

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.