Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares traded up 5.8% on Wednesday . The company traded as high as $11.19 and last traded at $11.1020. 32,688,659 shares changed hands during trading, an increase of 18% from the average session volume of 27,748,891 shares. The stock had previously closed at $10.49.
Analyst Upgrades and Downgrades
JOBY has been the subject of a number of recent analyst reports. HC Wainwright reissued a "buy" rating and set a $18.00 price target on shares of Joby Aviation in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of Joby Aviation from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. Morgan Stanley cut their target price on shares of Joby Aviation from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $13.06.
Read Our Latest Report on JOBY
Joby Aviation Price Performance
The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of -9.65 and a beta of 2.61. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $9.22 and a two-hundred day moving average price of $12.08.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. As a group, research analysts forecast that Joby Aviation, Inc. will post -0.83 EPS for the current year.
Insider Activity
In related news, insider Kate Dehoff sold 14,295 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $8.73, for a total value of $124,795.35. Following the sale, the insider owned 163,567 shares of the company's stock, valued at $1,427,939.91. This trade represents a 8.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Allison sold 74,844 shares of Joby Aviation stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the sale, the insider owned 676,008 shares in the company, valued at approximately $6,760,080. This represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,308,584 shares of company stock worth $12,409,110 over the last ninety days. Insiders own 32.40% of the company's stock.
Institutional Investors Weigh In On Joby Aviation
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company's stock worth $692,851,000 after buying an additional 2,540,382 shares in the last quarter. Geode Capital Management LLC raised its stake in Joby Aviation by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company's stock valued at $155,671,000 after acquiring an additional 390,794 shares in the last quarter. State Street Corp boosted its position in Joby Aviation by 5.0% during the 4th quarter. State Street Corp now owns 10,812,929 shares of the company's stock worth $142,731,000 after acquiring an additional 512,129 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Joby Aviation by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company's stock worth $57,697,000 after purchasing an additional 271,475 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Joby Aviation by 41.2% during the third quarter. Bank of America Corp DE now owns 4,192,109 shares of the company's stock valued at $67,661,000 after purchasing an additional 1,223,412 shares during the period. Institutional investors own 52.85% of the company's stock.
About Joby Aviation
(
Get Free Report)
Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.
The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.
Further Reading
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