Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares were down 5.7% during mid-day trading on Thursday . The company traded as low as $8.94 and last traded at $9.08. Approximately 13,195,268 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 13,656,578 shares. The stock had previously closed at $9.63.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on JOBY shares. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday, June 9th. Cantor Fitzgerald cut shares of Joby Aviation from an "overweight" rating to a "neutral" rating and set a $9.00 target price on the stock. in a research note on Thursday. Canaccord Genuity Group restated a "buy" rating and set a $12.00 target price on shares of Joby Aviation in a research note on Wednesday, June 4th. Finally, Morgan Stanley restated an "equal weight" rating and set a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.33.
View Our Latest Report on Joby Aviation
Joby Aviation Trading Down 3.1%
The company has a market cap of $6.81 billion, a P/E ratio of -12.28 and a beta of 2.39. The business's 50 day simple moving average is $6.97 and its 200 day simple moving average is $7.37.
Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the previous year, the company earned ($0.14) EPS. Sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.
Insider Activity
In related news, Director Motor Corp/ Toyota acquired 49,701,790 shares of Joby Aviation stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the transaction, the director now directly owns 122,573,621 shares in the company, valued at approximately $616,545,313.63. This represents a 68.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bonny W. Simi sold 9,695 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $6.78, for a total transaction of $65,732.10. Following the completion of the transaction, the insider now directly owns 146,941 shares of the company's stock, valued at approximately $996,259.98. This trade represents a 6.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 750,950 shares of company stock worth $4,640,619 over the last quarter. Insiders own 28.50% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Toyota Motor Corp purchased a new position in shares of Joby Aviation in the fourth quarter valued at $640,259,000. Baillie Gifford & Co. grew its holdings in shares of Joby Aviation by 4.3% in the fourth quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company's stock valued at $447,412,000 after purchasing an additional 2,281,161 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Joby Aviation by 15.8% in the fourth quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after purchasing an additional 6,388,232 shares in the last quarter. Uber Technologies Inc purchased a new position in shares of Joby Aviation in the fourth quarter valued at $207,842,000. Finally, Geode Capital Management LLC grew its holdings in shares of Joby Aviation by 8.7% in the fourth quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock valued at $83,015,000 after purchasing an additional 817,638 shares in the last quarter. 52.85% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
Before you consider Joby Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Joby Aviation wasn't on the list.
While Joby Aviation currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
