Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) fell 2% during trading on Friday . The company traded as low as $8.45 and last traded at $8.70. 10,014,004 shares were traded during trading, a decline of 27% from the average session volume of 13,783,312 shares. The stock had previously closed at $8.87.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on JOBY shares. JPMorgan Chase & Co. dropped their price objective on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald lowered Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 price target on the stock. in a research report on Thursday. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research report on Wednesday, June 4th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.33.
Get Our Latest Stock Analysis on JOBY
Joby Aviation Price Performance
The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -12.28 and a beta of 2.39. The business has a fifty day moving average price of $6.97 and a two-hundred day moving average price of $7.37.
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 the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the business earned ($0.14) earnings per share. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current year.
Insider Buying and Selling at Joby Aviation
In related news, Director Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the completion of the transaction, the director now directly owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. The trade was a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Motor Corp/ Toyota acquired 49,701,790 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average cost of $5.03 per share, with a total value of $250,000,003.70. Following the transaction, the director now owns 122,573,621 shares of the company's stock, valued at approximately $616,545,313.63. This trade represents a 68.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 750,950 shares of company stock valued at $4,640,619 in the last quarter. Corporate 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 JOBY. GAMMA Investing LLC grew its position in Joby Aviation by 773.9% during the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after acquiring an additional 5,015 shares during the period. Strs Ohio purchased a new stake in Joby Aviation during the first quarter valued at about $37,000. Whittier Trust Co. purchased a new stake in Joby Aviation during the fourth quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Joby Aviation during the fourth quarter valued at about $41,000. Finally, Toronto Dominion Bank purchased a new stake in Joby Aviation during the fourth quarter valued at about $41,000. 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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