Joby Aviation (NYSE:JOBY) Trading Up 1.4% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) rose 1.4% during trading on Wednesday . The stock traded as high as $10.10 and last traded at $9.90. Approximately 14,829,539 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 29,483,320 shares. The stock had previously closed at $9.76.

Analyst Ratings Changes

JOBY has been the topic of several recent research reports. HC Wainwright raised shares of Joby Aviation from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Thursday, February 26th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $15.50 price objective on shares of Joby Aviation in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Thursday, February 26th. Finally, Oppenheimer set a $18.00 price target on Joby Aviation in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $13.81.

Joby Aviation Stock Performance

The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of -8.39 and a beta of 2.59. The company has a 50-day moving average price of $12.23 and a 200-day moving average price of $14.15.

Joby Aviation (NYSE:JOBY) last posted its earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The business had revenue of $30.84 million for the quarter, compared to analysts’ expectations of $16.88 million. Joby Aviation’s revenue for the quarter was up 5506.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) EPS. On average, research analysts expect that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 8,539 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 $84,365.32. Following the completion of the transaction, the insider owned 159,877 shares in the company, valued at approximately $1,579,584.76. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Allison sold 9,815 shares of Joby Aviation stock in a transaction on Friday, February 13th. The stock was sold at an average price of $9.88, for a total transaction of $96,972.20. Following the sale, the insider owned 713,268 shares in the company, valued at $7,047,087.84. This represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,470,074 shares of company stock worth $16,083,913. 28.50% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. Fifth Third Bancorp boosted its position in shares of Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares during the period. Asset Planning Inc lifted its stake in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Joby Aviation by 284.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after acquiring an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Joby Aviation during the fourth quarter worth approximately $28,000. Finally, Canton Hathaway LLC purchased a new position in shares of Joby Aviation during the third quarter worth approximately $29,000. 52.85% of the stock is owned by hedge funds and other 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.