Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) traded up 3% during trading on Monday . The company traded as high as $17.35 and last traded at $16.77. 100,685,546 shares traded hands during trading, an increase of 303% from the average session volume of 25,008,996 shares. The stock had previously closed at $16.28.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. HC Wainwright cut shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley lifted their price objective on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Thursday. Wall Street Zen cut shares of Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Canaccord Genuity Group cut shares of Joby Aviation from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $11.83.
Read Our Latest Stock Report on Joby Aviation
Joby Aviation Price Performance
The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of -15.67 and a beta of 2.52. The stock's 50 day simple moving average is $15.79 and its 200-day simple moving average is $11.41.
Joby Aviation (NYSE:JOBY - Get Free Report) last posted its earnings results 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 business had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. The firm's revenue was down 94.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, insider Eric Allison sold 6,715 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $16.78, for a total value of $112,677.70. Following the completion of the sale, the insider directly owned 666,416 shares in the company, valued at approximately $11,182,460.48. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Didier Papadopoulos sold 5,102 shares of the business's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.08, for a total transaction of $92,244.16. Following the completion of the sale, the insider owned 98,104 shares of the company's stock, valued at $1,773,720.32. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,795,080 shares of company stock valued at $27,378,777 in the last three months. Company insiders own 32.40% of the company's stock.
Institutional Trading of Joby Aviation
A number of institutional investors and hedge funds have recently modified their holdings of JOBY. CWM LLC increased its holdings in Joby Aviation by 8.1% in the 2nd quarter. CWM LLC now owns 9,156 shares of the company's stock valued at $97,000 after buying an additional 689 shares during the period. GPS Wealth Strategies Group LLC increased its holdings in Joby Aviation by 32.0% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after buying an additional 750 shares during the period. Allworth Financial LP increased its holdings in Joby Aviation by 11.9% in the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company's stock valued at $76,000 after buying an additional 763 shares during the period. Flagship Harbor Advisors LLC increased its holdings in Joby Aviation by 2.6% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 31,726 shares of the company's stock valued at $335,000 after buying an additional 800 shares during the period. Finally, EP Wealth Advisors LLC increased its holdings in Joby Aviation by 2.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock valued at $403,000 after buying an additional 821 shares during the period. 52.85% of the stock is currently owned by institutional investors and hedge funds.
Joby Aviation Company Profile
(
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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