Joby Aviation (NYSE:JOBY) Shares Up 4.2% - Here's What Happened

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) shares traded up 4.2% on Monday . The stock traded as high as $12.58 and last traded at $12.55. 9,543,709 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 15,308,731 shares. The stock had previously closed at $12.04.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JOBY shares. Canaccord Genuity Group reiterated a "buy" rating and set a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. Wall Street Zen upgraded shares of Joby Aviation from a "sell" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald reiterated a "neutral" rating and set a $9.00 price objective on shares of Joby Aviation in a research note on Monday, June 23rd. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective (up from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $7.00 price objective (down from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.33.

Joby Aviation Price Performance

The business's fifty day simple moving average is $8.60 and its two-hundred day simple moving average is $7.64. The company has a market cap of $10.00 billion, a PE ratio of -15.04 and a beta of 2.47.

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 for the quarter, beating 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 period in the previous year, the business earned ($0.14) earnings per share. As a group, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, CEO Joeben Bevirt sold 32,285 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $317,038.70. Following the completion of the sale, the chief executive officer owned 391,493 shares of the company's stock, valued at approximately $3,844,461.26. This represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bonny W. Simi sold 8,272 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $9.82, for a total transaction of $81,231.04. Following the sale, the insider directly owned 211,397 shares of the company's stock, valued at approximately $2,075,918.54. This represents a 3.77% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,490,078 shares of company stock valued at $13,380,194. Corporate insiders own 32.40% of the company's stock.

Institutional Trading of Joby Aviation

Several large investors have recently bought and sold shares of the business. Toyota Motor Corp purchased a new stake in Joby Aviation during the 4th quarter valued at about $640,259,000. Vanguard Group Inc. grew its stake in Joby Aviation by 15.8% during the 4th quarter. Vanguard Group Inc. now owns 46,760,562 shares of the company's stock valued at $380,163,000 after acquiring an additional 6,388,232 shares in the last quarter. Uber Technologies Inc purchased a new stake in shares of Joby Aviation in the 4th quarter valued at approximately $207,842,000. Geode Capital Management LLC grew its stake in shares of Joby Aviation by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 10,208,358 shares of the company's stock valued at $83,015,000 after buying an additional 817,638 shares during the period. Finally, Rheos Capital Works Inc. grew its stake in shares of Joby Aviation by 89.4% in the 1st quarter. Rheos Capital Works Inc. now owns 4,555,000 shares of the company's stock valued at $27,421,000 after buying an additional 2,150,000 shares during the period. Hedge funds and other institutional investors own 52.85% of the company's stock.

Joby Aviation Company Profile

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.