Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.45 and last traded at $11.22, with a volume of 5983880 shares. The stock had previously closed at $10.66.
Wall Street Analysts Forecast Growth
Several analysts recently commented on JOBY shares. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.33.
Read Our Latest Research Report on Joby Aviation
Joby Aviation Price Performance
The business has a 50-day simple moving average of $8.05 and a 200 day simple moving average of $7.52.
Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 63.27% and a negative net margin of 447,083.78%. During the same period in the previous year, the business earned ($0.14) earnings per share. As a group, sell-side analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Insiders Place Their Bets
In other news, insider Kate Dehoff sold 13,790 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $9.82, for a total value of $135,417.80. Following the completion of the transaction, the insider owned 215,296 shares of the company's stock, valued at $2,114,206.72. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gregory Bowles sold 7,961 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total value of $81,839.08. Following the completion of the transaction, the insider directly owned 153,280 shares of the company's stock, valued at approximately $1,575,718.40. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,514,473 shares of company stock valued at $13,527,540. 32.40% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Joby Aviation
A number of hedge funds have recently made changes to their positions in JOBY. Bank of New York Mellon Corp boosted its stake in Joby Aviation by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,279,027 shares of the company's stock valued at $10,398,000 after buying an additional 84,080 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Joby Aviation during the fourth quarter valued at approximately $145,000. Jones Financial Companies Lllp boosted its stake in Joby Aviation by 374.3% during the fourth quarter. Jones Financial Companies Lllp now owns 8,703 shares of the company's stock valued at $71,000 after buying an additional 6,868 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Joby Aviation by 488.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,154 shares of the company's stock valued at $83,000 after buying an additional 8,427 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Joby Aviation by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock valued at $31,661,000 after buying an additional 361,520 shares during the last quarter. 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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