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

Key Points

• Joby Aviation's stock rose 1.2% to $15.65, with trading volume significantly exceeding the average, indicating heightened investor interest.
• Analysts have recently set a mixed outlook on Joby, with price targets ranging from $5.00 to $15.00, and the stock currently holds an average rating of "Reduce."
• Insiders have sold a combined total of over 1.8 million shares in the past ninety days, with institutional investors now owning 52.85% of the company's stock.

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) rose 1.2% during mid-day trading on Thursday . The stock traded as high as $15.91 and last traded at $15.65. Approximately 45,785,793 shares were traded during trading, an increase of 74% from the average daily volume of 26,280,266 shares. The stock had previously closed at $15.47.

Analysts Set New Price Targets

JOBY has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Wall Street Zen downgraded Joby Aviation from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Joby Aviation in a report on Wednesday, October 8th. Zacks Research downgraded Joby Aviation from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Finally, Morgan Stanley lifted their price objective on Joby Aviation from $7.00 to $15.00 and gave the stock an "equal weight" rating in a report on Thursday, October 9th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Joby Aviation presently has an average rating of "Reduce" and an average target price of $11.83.

Joby Aviation Trading Up 1.2%

The firm has a market cap of $13.40 billion, a price-to-earnings ratio of -14.63 and a beta of 2.52. The stock has a 50-day moving average of $15.54 and a 200-day moving average of $11.93.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the company earned ($0.18) EPS. Joby Aviation's revenue for the quarter was down 94.6% on a year-over-year basis. As a group, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In related news, insider Eric Allison sold 27,537 shares of the business's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $16.84, for a total transaction of $463,723.08. Following the completion of the transaction, the insider owned 692,428 shares in the company, valued at $11,660,487.52. The trade was a 3.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 500,001 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $14.30, for a total value of $7,150,014.30. Following the transaction, the director owned 56,328,057 shares of the company's stock, valued at $805,491,215.10. This represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,830,880 shares of company stock worth $28,060,985. 28.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Asset Planning Inc boosted its position in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company's stock worth $27,000 after acquiring an additional 700 shares during the period. Canton Hathaway LLC acquired a new position in Joby Aviation during the 3rd quarter worth $29,000. Hilltop National Bank acquired a new position in Joby Aviation during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC boosted its position in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company's stock worth $27,000 after acquiring an additional 1,880 shares during the period. Finally, Mather Group LLC. acquired a new position in Joby Aviation during the 3rd quarter worth $41,000. Institutional investors and hedge funds own 52.85% of the company's stock.

About Joby Aviation

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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