Joby Aviation (NYSE:JOBY) Shares Up 1.2%

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 1.2% during mid-day trading on Tuesday . The company traded as high as $5.12 and last traded at $5.07. 1,446,001 shares traded hands during trading, a decline of 74% from the average session volume of 5,598,955 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

A number of analysts recently commented on JOBY shares. Canaccord Genuity Group decreased their price target on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th.

Joby Aviation Price Performance

The firm’s 50 day moving average is $5.50 and its 200 day moving average is $5.34. The company has a market cap of $3.51 billion, a PE ratio of -6.53 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data 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 analysts’ expectations of $0.28 million. During the same period in the previous year, the firm posted ($0.17) EPS. As a group, analysts anticipate that Joby Aviation, Inc. will post -0.71 EPS for the current year.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Matthew Field sold 5,642 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $5.19, for a total transaction of $29,281.98. Following the transaction, the insider now owns 294,238 shares of the company’s stock, valued at approximately $1,527,095.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kate Dehoff sold 5,815 shares of the business’s 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 completion of the sale, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The disclosure for this sale can be found here. Insiders have sold a total of 343,395 shares of company stock valued at $1,699,082 over the last 90 days. 32.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Joby Aviation by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock worth $185,776,000 after acquiring an additional 2,889,012 shares during the last quarter. 8VC GP I LLC bought a new stake in Joby Aviation during the 4th quarter valued at $95,727,000. Ieq Capital LLC boosted its position in Joby Aviation by 68.6% during the 2nd quarter. Ieq Capital LLC now owns 4,441,574 shares of the company’s stock valued at $22,652,000 after buying an additional 1,807,054 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after acquiring an additional 64,404 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Joby Aviation during the first quarter valued at about $15,357,000. 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.