Joby Aviation (NYSE:JOBY) Trading Up 4.4% - What's Next?

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report)'s share price traded up 4.4% during mid-day trading on Tuesday . The company traded as high as $11.45 and last traded at $11.13. 10,760,150 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 14,965,317 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target (up from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Cantor Fitzgerald reissued a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a report on Monday, June 23rd. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $9.33.

Joby Aviation Trading Up 2.1%

The stock has a market capitalization of $9.34 billion, a P/E ratio of -13.99 and a beta of 2.47. The company has a fifty day simple moving average of $8.26 and a two-hundred day simple moving average of $7.57.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted 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 return on equity of 63.27% and a negative net margin of 447,083.78%. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, analysts forecast that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Joby Aviation

In other news, insider Bonny W. Simi sold 300,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $10.79, for a total transaction of $3,237,000.00. Following the completion of the transaction, the insider directly owned 203,588 shares in the company, valued at approximately $2,196,714.52. The trade was a 59.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Allison sold 24,395 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $6.04, for a total value of $147,345.80. Following the transaction, the insider owned 627,726 shares of the company's stock, valued at $3,791,465.04. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,514,473 shares of company stock worth $13,527,540. 28.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Joby Aviation by 773.9% in the 1st quarter. GAMMA Investing LLC now owns 5,663 shares of the company's stock valued at $34,000 after purchasing an additional 5,015 shares during the period. Strs Ohio acquired a new position in shares of Joby Aviation in the 1st quarter valued at approximately $37,000. Whittier Trust Co. acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $38,000. Toronto Dominion Bank acquired a new position in shares of Joby Aviation in the 4th quarter valued at approximately $41,000. Finally, Carolinas Wealth Consulting LLC acquired a new position in Joby Aviation during the 4th quarter worth approximately $41,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

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.