Joby Aviation (NYSE:JOBY) Shares Up 2.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) rose 2.7% on Friday . The company traded as high as $5.26 and last traded at $5.24. Approximately 4,812,069 shares changed hands during trading, a decline of 32% from the average daily volume of 7,046,390 shares. The stock had previously closed at $5.10.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JOBY. JPMorgan Chase & Co. cut their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Canaccord Genuity Group cut their price target on shares of Joby Aviation from $10.50 to $9.75 and set a “buy” rating on the stock in a report on Tuesday, October 29th. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, October 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research report on Monday, September 30th.

Joby Aviation Price Performance

The stock’s fifty day simple moving average is $5.31 and its 200-day simple moving average is $5.30. The stock has a market cap of $3.71 billion, a P/E ratio of -7.49 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 49.26% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. During the same period last year, the business posted ($0.13) EPS. Analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In related news, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total value of $153,439.00. Following the sale, the insider now directly owns 199,413 shares in the company, valued at $1,096,771.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the completion of the transaction, the insider now owns 47,474 shares of the company’s stock, valued at approximately $253,036.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kate Dehoff sold 27,898 shares of Joby Aviation stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $5.50, for a total transaction of $153,439.00. Following the sale, the insider now owns 199,413 shares in the company, valued at approximately $1,096,771.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 525,499 shares of company stock worth $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently bought and sold shares of the stock. Caprock Group LLC lifted its holdings in Joby Aviation by 179.5% in the third quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock worth $626,000 after purchasing an additional 79,896 shares during the period. Empowered Funds LLC acquired a new stake in Joby Aviation in the 3rd quarter valued at about $51,000. Bouvel Investment Partners LLC acquired a new stake in Joby Aviation in the 3rd quarter valued at about $614,000. Janney Montgomery Scott LLC raised its holdings in Joby Aviation by 15.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 266,882 shares of the company’s stock worth $1,342,000 after buying an additional 34,866 shares during the period. Finally, Fullcircle Wealth LLC raised its holdings in Joby Aviation by 40.0% during the 3rd quarter. Fullcircle Wealth LLC now owns 21,000 shares of the company’s stock worth $111,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds 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.