Joby Aviation (NYSE:JOBY) Shares Up 2.5% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 2.5% on Monday . The company traded as high as $6.16 and last traded at $6.08. Approximately 3,451,355 shares traded hands during trading, a decline of 69% from the average daily volume of 11,226,668 shares. The stock had previously closed at $5.93.

Analyst Ratings Changes

A number of research firms recently commented on JOBY. JPMorgan Chase & Co. reduced their price objective on Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a research report on Friday. Canaccord Genuity Group upped their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.58.

Joby Aviation Price Performance

The stock has a market cap of $4.75 billion, a P/E ratio of -8.61 and a beta of 2.35. The stock’s 50-day moving average is $6.62 and its two-hundred day moving average is $6.97.

Insider Activity

In other Joby Aviation news, CEO Joeben Bevirt sold 10,785 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total transaction of $80,132.55. Following the sale, the chief executive officer now directly owns 793,036 shares of the company’s stock, valued at $5,892,257.48. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul Cahill Sciarra sold 333,334 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $8.02, for a total value of $2,673,338.68. Following the transaction, the director now directly owns 58,661,395 shares in the company, valued at approximately $470,464,387.90. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 832,073 shares of company stock worth $5,885,469 over the last 90 days. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of JOBY. State Street Corp increased its stake in Joby Aviation by 9.5% in the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock worth $47,144,000 after purchasing an additional 812,248 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Joby Aviation by 15.4% in the third quarter. EP Wealth Advisors LLC now owns 37,369 shares of the company’s stock worth $188,000 after purchasing an additional 5,000 shares during the last quarter. Geode Capital Management LLC increased its stake in Joby Aviation by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock worth $47,245,000 after buying an additional 670,852 shares during the period. Tidal Investments LLC lifted its holdings in Joby Aviation by 13.7% during the 3rd quarter. Tidal Investments LLC now owns 29,246 shares of the company’s stock valued at $147,000 after buying an additional 3,522 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in Joby Aviation in the 4th quarter valued at about $142,000. 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.