Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price shot up 1.6% during trading on Friday . The stock traded as high as $9.79 and last traded at $9.64. 11,410,376 shares traded hands during trading, a decline of 21% from the average session volume of 14,378,343 shares. The stock had previously closed at $9.48.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a research report on Monday, June 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Monday. Canaccord Genuity Group reissued a "buy" rating and issued a $12.00 target price on shares of Joby Aviation in a report on Wednesday, June 4th. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $7.00 target price (down 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $9.33.
Check Out Our Latest Stock Analysis on Joby Aviation
Joby Aviation Trading Up 1.3%
The company has a market capitalization of $7.60 billion, a PE ratio of -11.43 and a beta of 2.39. The business's fifty day moving average is $7.49 and its two-hundred day moving average is $7.41.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its 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 last year, the business posted ($0.14) earnings per share. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Insiders Place Their Bets
In related news, Director Motor Corp/ Toyota bought 49,701,790 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price 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 in the company, valued at approximately $616,545,313.63. This trade represents a 68.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kate Dehoff sold 9,720 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $6.00, for a total value of $58,320.00. Following the transaction, the insider now directly owns 219,366 shares in the company, valued at $1,316,196. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 912,605 shares of company stock valued at $6,286,569. 28.50% of the stock is owned by insiders.
Institutional Trading of Joby Aviation
Several large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. purchased a new position in shares of Joby Aviation during the 4th quarter worth $38,000. Toronto Dominion Bank bought a new stake in Joby Aviation during the fourth quarter valued at about $41,000. Carolinas Wealth Consulting LLC purchased a new stake in Joby Aviation in the fourth quarter worth about $41,000. GAMMA Investing LLC increased its position in Joby Aviation by 773.9% in the first quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after buying an additional 5,015 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Joby Aviation by 195.8% in the fourth quarter. Covestor Ltd now owns 6,022 shares of the company's stock worth $50,000 after buying an additional 3,986 shares during the period. 52.85% of the stock is currently owned by institutional investors.
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.
Further Reading
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