Joby Aviation (NYSE:JOBY) Trading 0.1% Higher – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY) rose 0.1% during trading on Wednesday . The stock traded as high as $6.81 and last traded at $6.67. Approximately 2,487,626 shares traded hands during trading, a decline of 77% from the average daily volume of 10,664,734 shares. The stock had previously closed at $6.66.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $9.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.90.

Joby Aviation Price Performance

The business’s fifty day moving average price is $7.36 and its 200-day moving average price is $6.91. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -9.37 and a beta of 2.35.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of Joby Aviation stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now directly owns 202,276 shares of the company’s stock, valued at $1,502,910.68. The trade was a 3.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joeben Bevirt sold 10,785 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $80,132.55. Following the completion of the sale, the chief executive officer now owns 793,036 shares of the company’s stock, valued at approximately $5,892,257.48. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,015,470 shares of company stock worth $8,600,479. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after acquiring an additional 5,000 shares during the period. Whittier Trust Co. bought a new stake in shares of Joby Aviation during the 4th quarter worth $38,000. Salem Investment Counselors Inc. boosted its holdings in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Joby Aviation in the fourth quarter valued at about $41,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Joby Aviation during the 4th quarter worth approximately $41,000. 52.85% of the stock is owned by institutional investors.

About Joby Aviation

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.