Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $17.72, but opened at $16.98. Joby Aviation shares last traded at $18.05, with a volume of 10,942,169 shares.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Wall Street Zen raised Joby Aviation from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HC Wainwright reiterated a "buy" rating and set a $13.00 target price (up from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Morgan Stanley restated an "equal weight" rating and issued a $7.00 price target (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 price target on shares of Joby Aviation in a report on Wednesday, June 4th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 price target on shares of Joby Aviation in a report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $9.33.
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Joby Aviation Trading Up 2.9%
The firm has a market cap of $14.44 billion, a P/E ratio of -21.70 and a beta of 2.47. The business's fifty day moving average price is $9.18 and its two-hundred day moving average price is $7.81.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted ($0.14) earnings per share. Research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.
Insider Buying and Selling at Joby Aviation
In related news, insider Kate Dehoff sold 20,823 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $13.67, for a total value of $284,650.41. Following the completion of the transaction, the insider directly owned 202,276 shares in the company, valued at approximately $2,765,112.92. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 5,102 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the completion of the transaction, the insider owned 84,953 shares of the company's stock, valued at approximately $873,316.84. This represents a 5.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,034,320 shares of company stock valued at $20,211,444 over the last quarter. Company insiders own 28.50% of the company's stock.
Institutional Investors Weigh In On Joby Aviation
A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in Joby Aviation during the fourth quarter worth $2,168,000. Wealth Enhancement Advisory Services LLC bought a new stake in Joby Aviation during the 4th quarter worth approximately $121,000. KLP Kapitalforvaltning AS acquired a new stake in Joby Aviation in the 4th quarter valued at about $311,000. Deutsche Bank AG lifted its stake in shares of Joby Aviation by 26.0% during the fourth quarter. Deutsche Bank AG now owns 350,784 shares of the company's stock valued at $2,852,000 after acquiring an additional 72,329 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Joby Aviation by 5,161.0% in the first quarter. GAMMA Investing LLC now owns 34,091 shares of the company's stock valued at $205,000 after buying an additional 33,443 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.
Joby Aviation Company Profile
(
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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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