Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price traded up 6.2% during mid-day trading on Wednesday . The company traded as high as $10.28 and last traded at $10.02. 17,326,146 shares traded hands during trading, an increase of 16% from the average session volume of 14,906,884 shares. The stock had previously closed at $9.44.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on 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 reissued a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. HC Wainwright restated a "buy" rating and set a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Joby Aviation has a consensus rating of "Hold" and an average price target of $9.33.
Read Our Latest Report on JOBY
Joby Aviation Trading Down 2.0%
The stock has a market cap of $6.88 billion, a PE ratio of -12.42 and a beta of 2.39. The firm has a fifty day simple moving average of $6.90 and a two-hundred day simple moving average of $7.37.
Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period last year, the firm earned ($0.14) earnings per share. Equities analysts forecast 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 Motor Corp/ Toyota bought 49,701,790 shares of the stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $5.03 per share, with a total value of $250,000,003.70. Following the completion of the acquisition, the director now owns 122,573,621 shares of the company's stock, valued at $616,545,313.63. This represents a 68.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $5.89, for a total transaction of $1,472,500.00. Following the completion of the transaction, the chief executive officer now directly owns 32,275,793 shares of the company's stock, valued at approximately $190,104,420.77. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 750,950 shares of company stock valued at $4,640,619. Corporate insiders own 28.50% of the company's stock.
Institutional Investors Weigh In On Joby Aviation
Several hedge funds have recently modified their holdings of JOBY. GAMMA Investing LLC boosted its stake in Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock worth $34,000 after purchasing an additional 5,015 shares in the last quarter. Strs Ohio acquired a new stake in shares of Joby Aviation during the 1st quarter worth approximately $37,000. Whittier Trust Co. purchased a new stake in shares of Joby Aviation during the 4th quarter worth about $38,000. Compagnie Lombard Odier SCmA acquired a new stake in Joby Aviation in the fourth quarter valued at approximately $41,000. Finally, Toronto Dominion Bank purchased a new stake in Joby Aviation in the 4th quarter worth $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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