Joby Aviation (NYSE:JOBY) Trading Up 1.5% – Here’s Why

Joby Aviation, Inc. (NYSE:JOBYGet Free Report)’s share price traded up 1.5% on Friday . The company traded as high as $7.77 and last traded at $7.70. 3,442,266 shares were traded during trading, a decline of 73% from the average session volume of 12,921,023 shares. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

JOBY has been the subject of several analyst reports. Canaccord Genuity Group raised their price objective on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Joby Aviation from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $5.00 to $6.00 in a research report on Friday, January 10th. Needham & Company LLC lifted their target price on shares of Joby Aviation from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Check Out Our Latest Stock Analysis on JOBY

Joby Aviation Price Performance

The business’s 50-day simple moving average is $8.30 and its 200-day simple moving average is $6.60.

Insider Buying and Selling at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,005 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the transaction, the director now owns 58,994,729 shares in the company, valued at $471,957,832. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,025,284 shares of company stock worth $8,683,241. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bouvel Investment Partners LLC grew its holdings in Joby Aviation by 1.4% in the fourth quarter. Bouvel Investment Partners LLC now owns 123,862 shares of the company’s stock worth $1,007,000 after purchasing an additional 1,715 shares during the period. NewEdge Advisors LLC grew its holdings in Joby Aviation by 9.9% in the fourth quarter. NewEdge Advisors LLC now owns 21,505 shares of the company’s stock worth $175,000 after purchasing an additional 1,935 shares during the period. Gallagher Fiduciary Advisors LLC grew its holdings in Joby Aviation by 3.1% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 66,800 shares of the company’s stock worth $543,000 after purchasing an additional 2,000 shares during the period. Private Advisor Group LLC grew its holdings in Joby Aviation by 6.6% in the fourth quarter. Private Advisor Group LLC now owns 36,774 shares of the company’s stock worth $299,000 after purchasing an additional 2,261 shares during the period. Finally, Larson Financial Group LLC grew its holdings in Joby Aviation by 35.3% in the fourth quarter. Larson Financial Group LLC now owns 9,864 shares of the company’s stock worth $80,000 after purchasing an additional 2,574 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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.

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