Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $10.79 and last traded at $11.03, with a volume of 10968581 shares changing hands. The stock had previously closed at $9.44.
Analyst Ratings Changes
Several research analysts have weighed in on JOBY shares. Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. Finally, HC Wainwright restated a "buy" rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of "Hold" and a consensus target price of $9.33.
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Joby Aviation Price Performance
The company has a market cap of $7.80 billion, a PE ratio of -11.73 and a beta of 2.39. The business's fifty day simple moving average is $7.65 and its two-hundred day simple moving average is $7.43.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same period in the prior year, the business posted ($0.14) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Insider Buying and Selling at Joby Aviation
In other news, insider Bonny W. Simi sold 12,382 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $5.81, for a total value of $71,939.42. Following the completion of the transaction, the insider owned 203,588 shares of the company's stock, valued at approximately $1,182,846.28. This trade represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul Cahill Sciarra sold 333,334 shares of Joby Aviation stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $8.40, for a total value of $2,800,005.60. Following the completion of the transaction, the director owned 57,828,060 shares of the company's stock, valued at approximately $485,755,704. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 662,605 shares of company stock valued at $4,814,069. 32.40% of the stock is currently owned by company insiders.
Institutional Trading of Joby Aviation
A number of large investors have recently made changes to their positions in JOBY. Toyota Motor Corp purchased a new position in shares of Joby Aviation in the 4th quarter valued at about $640,259,000. Uber Technologies Inc purchased a new stake in Joby Aviation in the fourth quarter valued at $207,842,000. Vanguard Group Inc. boosted its stake in Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Joby Aviation by 331.4% during the fourth quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock worth $34,634,000 after purchasing an additional 3,272,597 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Joby Aviation during the first quarter worth about $18,936,000. 52.85% of the stock is currently owned by hedge funds and other institutional investors.
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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