Joby Aviation (NYSE:JOBY) Trading Up 1.5% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY) shares were up 1.5% during mid-day trading on Tuesday . The stock traded as high as $13.56 and last traded at $13.4750. Approximately 12,779,037 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 24,617,563 shares. The stock had previously closed at $13.28.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a report on Thursday, January 22nd. The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price target for the company. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Morgan Stanley upped their target price on Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.43.

Joby Aviation Trading Up 1.5%

The stock has a 50 day moving average price of $14.44 and a 200 day moving average price of $15.42. The company has a market capitalization of $12.29 billion, a P/E ratio of -10.06 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million for the quarter, compared to analyst estimates of $0.02 million. Joby Aviation’s revenue was up 7962.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. On average, research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Gregory Bowles sold 5,383 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $14.72, for a total transaction of $79,237.76. Following the completion of the sale, the insider owned 162,674 shares of the company’s stock, valued at approximately $2,394,561.28. This represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric Allison sold 21,493 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $14.84, for a total transaction of $318,956.12. Following the transaction, the insider owned 702,604 shares of the company’s stock, valued at approximately $10,426,643.36. The trade was a 2.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 289,556 shares of company stock worth $4,052,822. 32.40% of the stock is currently owned by insiders.

Institutional Trading of Joby Aviation

A number of large investors have recently bought and sold shares of JOBY. Sowell Financial Services LLC bought a new position in Joby Aviation during the third quarter worth $663,000. Voya Investment Management LLC boosted its stake in Joby Aviation by 20.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,150,050 shares of the company’s stock valued at $18,562,000 after purchasing an additional 192,064 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in Joby Aviation during the 2nd quarter worth approximately $461,000. Pier 88 Investment Partners LLC purchased a new stake in shares of Joby Aviation in the third quarter worth approximately $635,000. Finally, Udine Wealth Management Inc. bought a new position in shares of Joby Aviation in the third quarter valued at approximately $1,414,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

About Joby Aviation

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.