Joby Aviation (NYSE:JOBY) Trading 1.8% Higher – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY)’s share price was up 1.8% during trading on Thursday . The company traded as high as $10.29 and last traded at $10.2760. Approximately 14,246,967 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 30,059,482 shares. The stock had previously closed at $10.09.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on JOBY. Zacks Research raised Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Canaccord Genuity Group restated a “hold” rating and set a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $13.21.

Joby Aviation Stock Down 3.9%

The company has a market capitalization of $8.99 billion, a P/E ratio of -7.35 and a beta of 2.57. The business’s 50-day moving average is $13.00 and its two-hundred day moving average is $14.63.

Insider Transactions at Joby Aviation

In related news, insider Didier Papadopoulos sold 6,366 shares of Joby Aviation stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $9.74, for a total transaction of $62,004.84. Following the sale, the insider directly owned 128,548 shares in the company, valued at approximately $1,252,057.52. This trade represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric Allison sold 9,815 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $9.88, for a total value of $96,972.20. Following the completion of the transaction, the insider owned 713,268 shares of the company’s stock, valued at $7,047,087.84. This trade represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 1,463,528 shares of company stock worth $16,054,224. Company insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after buying an additional 689 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in Joby Aviation by 22.5% in the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after acquiring an additional 697 shares during the last quarter. Asset Planning Inc grew its position in shares of Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the period. GoalVest Advisory LLC grew its position in shares of Joby Aviation by 2.1% during the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after acquiring an additional 700 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Joby Aviation by 4.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock worth $270,000 after purchasing an additional 736 shares during the last quarter. 52.85% of the stock is currently owned by institutional investors.

Joby Aviation Company Profile

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.