Joby Aviation (NYSE:JOBY) Stock Price Up 2.8%

Joby Aviation, Inc. (NYSE:JOBY)’s share price rose 2.8% on Tuesday . The stock traded as high as $5.30 and last traded at $5.22. Approximately 2,179,413 shares changed hands during trading, a decline of 61% from the average daily volume of 5,584,013 shares. The stock had previously closed at $5.08.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th.

Joby Aviation Stock Performance

The stock has a 50 day moving average price of $5.48 and a 200 day moving average price of $5.38. The company has a market cap of $3.64 billion, a P/E ratio of -6.74 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. The firm had revenue of $0.03 million during the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was down 97.5% on a year-over-year basis. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other news, insider Matthew Field sold 13,953 shares of the business’s 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 sale, the insider now directly owns 269,196 shares of the company’s stock, valued at $1,335,212.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the transaction, the insider now owns 199,413 shares in the company, valued at $1,348,031.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Field sold 13,953 shares of Joby Aviation stock in a transaction on Monday, May 20th. The shares were sold at an average price of $4.96, for a total value of $69,206.88. Following the transaction, the insider now owns 269,196 shares in the company, valued at approximately $1,335,212.16. The disclosure for this sale can be found here. Insiders have sold 343,395 shares of company stock valued at $1,699,082 over the last three months. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of Joby Aviation by 26.7% in the second quarter. Rhumbline Advisers now owns 548,724 shares of the company’s stock worth $2,798,000 after buying an additional 115,483 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Joby Aviation in the second quarter worth about $101,000. Flaharty Asset Management LLC lifted its position in shares of Joby Aviation by 25.0% in the second quarter. Flaharty Asset Management LLC now owns 15,000 shares of the company’s stock worth $76,000 after buying an additional 3,000 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Joby Aviation by 67.1% in the second quarter. Commonwealth Equity Services LLC now owns 102,399 shares of the company’s stock worth $522,000 after buying an additional 41,128 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Joby Aviation by 59.6% in the second quarter. Principal Financial Group Inc. now owns 54,294 shares of the company’s stock worth $277,000 after buying an additional 20,280 shares during the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.

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.