Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s stock price was up 2.5% during trading on Wednesday . The company traded as high as $6.53 and last traded at $6.52. Approximately 2,115,987 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 11,627,021 shares. The stock had previously closed at $6.36.
Wall Street Analysts Forecast Growth
Several research firms recently commented on JOBY. Canaccord Genuity Group lifted their price target on Joby Aviation from $9.75 to $11.50 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Morgan Stanley reissued an "equal weight" rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research report on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Monday. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Joby Aviation in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.58.
Get Our Latest Stock Analysis on JOBY
Joby Aviation Price Performance
The stock's fifty day moving average price is $6.21 and its 200 day moving average price is $7.04. The stock has a market capitalization of $5.09 billion, a P/E ratio of -9.26 and a beta of 2.34.
Insider Activity
In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,667 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $1,130,002.26. Following the transaction, the director now owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. This trade represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 6,903 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $51,289.29. Following the completion of the sale, the insider now directly owns 202,276 shares of the company's stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 668,827 shares of company stock valued at $4,108,524. Corporate insiders own 32.40% 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. Tidal Investments LLC grew its position in shares of Joby Aviation by 13.7% in the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company's stock worth $147,000 after buying an additional 3,522 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Joby Aviation in the fourth quarter worth $142,000. Watts Gwilliam & Co. LLC purchased a new stake in shares of Joby Aviation during the 4th quarter valued at $154,000. Salem Investment Counselors Inc. boosted its position in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company's stock worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth about $418,000. 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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