Joby Aviation (NYSE:JOBY) Shares Up 4.6% - What's Next?

Key Points

• Shares of Joby Aviation (NYSE: JOBY) rose by 4.6% to $17.41 amid low trading volume, which was 64% below average.
• Equities analysts have mixed views on JOBY, with target prices ranging from $7.00 to $17.00 and an average rating of "Hold".
• Joby Aviation reported a wider-than-expected earnings loss of ($0.24) per share, alongside a significant year-over-year revenue decline of 94.6%.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shot up 4.6% on Monday . The stock traded as high as $17.45 and last traded at $17.41. 7,426,783 shares were traded during trading, a decline of 64% from the average session volume of 20,810,088 shares. The stock had previously closed at $16.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. HC Wainwright lowered Joby Aviation from a "buy" rating to a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen lowered Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Joby Aviation from $5.00 to $7.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group lowered Joby Aviation from a "buy" rating to a "hold" rating and lifted their price objective for the company from $12.00 to $17.00 in a research note on Thursday, August 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.50.

Joby Aviation Stock Performance

The firm has a fifty day simple moving average of $12.70 and a 200-day simple moving average of $8.85. The company has a market capitalization of $14.10 billion, a PE ratio of -16.66 and a beta of 2.52.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.06). Joby Aviation had a negative return on equity of 71.29% and a negative net margin of 447,083.78%. The business had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. Joby Aviation's revenue for the quarter was down 94.6% compared to the same quarter last year. As a group, research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Didier Papadopoulos sold 5,102 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $10.28, for a total value of $52,448.56. Following the completion of the sale, the insider directly owned 84,953 shares in the company, valued at approximately $873,316.84. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bonny W. Simi sold 173,456 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $17.25, for a total value of $2,992,116.00. Following the completion of the sale, the insider owned 211,397 shares of the company's stock, valued at $3,646,598.25. This trade represents a 45.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,038,210 shares of company stock worth $22,228,265. Corporate insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors have recently made changes to their positions in JOBY. GPS Wealth Strategies Group LLC boosted its position in Joby Aviation by 32.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,097 shares of the company's stock valued at $33,000 after purchasing an additional 750 shares during the period. GAMMA Investing LLC boosted its position in Joby Aviation by 773.9% during 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 Joby Aviation during the 1st quarter valued at approximately $37,000. Ameritas Advisory Services LLC acquired a new position in Joby Aviation during the 2nd quarter valued at approximately $39,000. Finally, Toronto Dominion Bank acquired a new position in Joby Aviation during the 4th quarter valued at approximately $41,000. 52.85% of the stock is currently owned by institutional investors.

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.