Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) were up 4.1% during mid-day trading on Thursday . The company traded as high as $11.99 and last traded at $12.03. Approximately 6,409,190 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 15,142,562 shares. The stock had previously closed at $11.56.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on JOBY shares. HC Wainwright restated a "buy" rating and issued a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Canaccord Genuity Group restated a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. Cantor Fitzgerald restated a "neutral" rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. Finally, Morgan Stanley restated an "equal weight" rating and issued a $7.00 price objective (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $9.33.
View Our Latest Stock Analysis on JOBY
Joby Aviation Stock Performance
The firm has a market cap of $9.74 billion, a price-to-earnings ratio of -14.55 and a beta of 2.47. The business's 50-day moving average is $8.26 and its 200-day moving average is $7.57.
Joby Aviation (NYSE:JOBY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 447,083.78% and a negative return on equity of 63.27%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Equities research analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.
Insider Activity
In other Joby Aviation news, insider Didier Papadopoulos sold 5,102 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $10.28, for a total transaction of $52,448.56. Following the sale, the insider owned 84,953 shares of the company's stock, valued at $873,316.84. This represents 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, CEO Joeben Bevirt sold 32,285 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $9.82, for a total transaction of $317,038.70. Following the sale, the chief executive officer directly owned 391,493 shares in the company, valued at approximately $3,844,461.26. This represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,514,473 shares of company stock worth $13,527,540. 28.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of JOBY. Toyota Motor Corp bought a new position in shares of Joby Aviation in the 4th quarter valued at about $640,259,000. Uber Technologies Inc bought a new position in shares of Joby Aviation in the 4th quarter valued at about $207,842,000. Vanguard Group Inc. boosted its stake in shares of Joby Aviation by 15.8% in the 4th 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 during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Joby Aviation by 331.4% in the 4th quarter. Nuveen Asset Management LLC now owns 4,260,082 shares of the company's stock valued at $34,634,000 after purchasing an additional 3,272,597 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Joby Aviation in the 1st quarter valued at about $18,936,000. Institutional investors own 52.85% of the company's stock.
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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