Joby Aviation (NYSE:JOBY) Shares Up 3.1%

Joby Aviation, Inc. (NYSE:JOBY) shares shot up 3.1% during trading on Tuesday . The company traded as high as $6.73 and last traded at $6.67. Approximately 1,988,980 shares were traded during trading, a decline of 64% from the average daily volume of 5,475,079 shares. The stock had previously closed at $6.47.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Joby Aviation Stock Performance

The business’s 50 day moving average price is $5.34 and its two-hundred day moving average price is $5.39. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -8.21 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.05 million. The company’s revenue was down 97.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.16) earnings per share. On average, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other news, insider Matthew Field sold 13,953 shares of Joby Aviation stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the transaction, the insider now owns 269,196 shares in the company, valued at $1,335,212.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Joby Aviation news, insider Didier Papadopoulos sold 23,188 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the sale, the insider now directly owns 54,666 shares of the company’s stock, valued at $265,676.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Field sold 13,953 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $4.96, for a total transaction of $69,206.88. Following the completion of the sale, the insider now directly owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The disclosure for this sale can be found here. Insiders sold a total of 345,982 shares of company stock valued at $1,713,310 over the last three months. Insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Several large investors have recently added to or reduced their stakes in the business. Fullcircle Wealth LLC bought a new stake in Joby Aviation in the second quarter worth approximately $76,000. Dakota Wealth Management bought a new stake in Joby Aviation during the second quarter worth approximately $56,000. Nisa Investment Advisors LLC boosted its position in Joby Aviation by 216.3% during the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after purchasing an additional 5,840 shares during the period. Integris Wealth Management LLC bought a new stake in Joby Aviation during the second quarter worth approximately $54,000. Finally, SG Americas Securities LLC boosted its position in Joby Aviation by 346.4% during the second quarter. SG Americas Securities LLC now owns 336,062 shares of the company’s stock worth $1,714,000 after purchasing an additional 260,780 shares during the period. 45.54% of the stock is 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.