Joby Aviation (NYSE:JOBY) Stock Price Up 0.4% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s share price shot up 0.4% during mid-day trading on Tuesday . The stock traded as high as $5.55 and last traded at $5.51. 1,329,917 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 6,064,799 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $10.50 target price on shares of Joby Aviation in a research report on Friday, October 4th. JPMorgan Chase & Co. raised their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, October 2nd.

Joby Aviation Stock Up 10.9 %

The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -8.00 and a beta of 1.97. The company’s 50-day simple moving average is $5.26 and its 200 day simple moving average is $5.25.

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

Insiders Place Their Bets

In other news, insider Matthew Field sold 5,643 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $5.96, for a total value of $33,632.28. Following the sale, the insider now directly owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $4.85, for a total value of $1,212,500.00. Following the completion of the sale, the chief executive officer now owns 32,674,274 shares in the company, valued at approximately $158,470,228.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Field sold 5,643 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $5.96, for a total transaction of $33,632.28. Following the completion of the sale, the insider now owns 293,143 shares of the company’s stock, valued at approximately $1,747,132.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 525,499 shares of company stock valued at $2,667,151 over the last three months. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

A number of large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Joby Aviation by 216.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after acquiring an additional 5,840 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Joby Aviation by 3,311.3% in the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares in the last quarter. Integris Wealth Management LLC bought a new position in shares of Joby Aviation in the second quarter valued at about $54,000. Dakota Wealth Management acquired a new position in Joby Aviation during the 2nd quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in Joby Aviation in the 2nd quarter valued at about $57,000. 45.54% of the stock is currently owned by institutional investors.

Joby Aviation Company Profile

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.