By otakuyassine3@gmail.com 
Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) was up 1.5% on Tuesday . The stock traded as high as $8.25 and last traded at $8.18. Approximately 3,997,669 shares traded hands during trading, a decline of 71% from the average daily volume of 13,628,622 shares. The stock had previously closed at $8.06.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on JOBY shares. Needham & Company LLC lifted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered shares of Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $5.00 to $6.00 in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, Joby Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.
Check Out Our Latest Report on Joby Aviation
Joby Aviation Stock Performance
The firm has a market cap of $6.01 billion, a price-to-earnings ratio of -11.22 and a beta of 2.33. The business has a fifty day simple moving average of $8.39 and a 200-day simple moving average of $6.53.
Joby Aviation (NYSE:JOBY – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. During the same quarter in the prior year, the business earned ($0.13) earnings per share. On average, equities analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.
Insider Transactions at Joby Aviation
In other Joby Aviation news, Director Paul Cahill Sciarra sold 333,334 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total transaction of $2,673,338.68. Following the completion of the transaction, the director now owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This represents a 20.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,005,672 shares of company stock worth $8,537,389. Company insiders own 32.40% of the company’s stock.
Institutional Trading of Joby Aviation
A number of institutional investors have recently bought and sold shares of JOBY. Raymond James Financial Inc. acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $2,168,000. Proficio Capital Partners LLC bought a new stake in Joby Aviation in the fourth quarter worth approximately $145,000. Victory Capital Management Inc. lifted its stake in Joby Aviation by 10.3% in the fourth quarter. Victory Capital Management Inc. now owns 54,370 shares of the company’s stock valued at $442,000 after buying an additional 5,077 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Joby Aviation by 10.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company’s stock worth $31,661,000 after buying an additional 361,520 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Joby Aviation by 488.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,154 shares of the company’s stock valued at $83,000 after acquiring an additional 8,427 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.
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.
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