Joby Aviation (NYSE:JOBY) Stock Price Up 1.2% - What's Next?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) was up 1.2% during mid-day trading on Thursday . The company traded as high as $6.73 and last traded at $6.71. Approximately 3,370,992 shares were traded during trading, a decline of 73% from the average daily volume of 12,433,889 shares. The stock had previously closed at $6.63.

Wall Street Analyst Weigh In

Several research firms recently commented on JOBY. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Thursday, February 27th. Canaccord Genuity Group upped their price target on shares of Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $9.00 price target on shares of Joby Aviation in a research report on Monday, May 5th. Finally, 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. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $8.67.

Joby Aviation Stock Up 1.7%

The company has a market capitalization of $5.31 billion, a PE ratio of -9.62 and a beta of 2.34. The company's 50 day moving average is $6.32 and its two-hundred day moving average is $7.15.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 last year, the company posted ($0.14) earnings per share. Analysts forecast that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 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 value of $65,732.10. Following the sale, the insider now owns 146,941 shares in the company, valued at $996,259.98. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Cahill Sciarra sold 166,667 shares of the company's stock in a transaction that occurred 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 owns 58,494,728 shares in the company, valued at approximately $396,594,255.84. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 753,766 shares of company stock valued at $4,659,968. 28.50% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toyota Motor Corp acquired a new stake in Joby Aviation in the fourth quarter valued at about $640,259,000. Uber Technologies Inc purchased a new stake in shares of Joby Aviation in the fourth quarter valued at $207,842,000. Vanguard Group Inc. increased its position in Joby Aviation by 15.8% during the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock worth $380,163,000 after purchasing an additional 6,388,232 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after purchasing an additional 3,272,597 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Joby Aviation during the first quarter worth approximately $18,936,000. Institutional investors and hedge funds own 52.85% of the company's stock.

Joby Aviation Company Profile

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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