Joby Aviation (NYSE:JOBY) Trading Up 1.4% – Here’s What Happened

Joby Aviation, Inc. (NYSE:JOBY) shot up 1.4% during trading on Friday . The stock traded as high as $8.68 and last traded at $8.49. 3,891,786 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 16,900,525 shares. The stock had previously closed at $8.37.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JOBY. HC Wainwright reissued a “buy” rating and issued a $9.00 target price on shares of Joby Aviation in a research report on Wednesday, December 18th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Canaccord Genuity Group lifted their target price on shares of Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Needham & Company LLC increased their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. lowered Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Joby Aviation Stock Down 2.3 %

The firm has a market capitalization of $6.25 billion, a PE ratio of -11.68 and a beta of 2.33. The stock’s fifty day simple moving average is $7.94 and its 200 day simple moving average is $6.32.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter last year, the company earned ($0.13) earnings per share. On average, analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Activity

In related news, insider Didier Papadopoulos sold 6,005 shares of Joby Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $7.65, for a total transaction of $45,938.25. Following the transaction, the insider now owns 54,776 shares in the company, valued at approximately $419,036.40. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul Cahill Sciarra sold 333,332 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the completion of the transaction, the director now directly owns 58,994,729 shares of the company’s stock, valued at $471,957,832. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 640,849 shares of company stock valued at $5,601,747 in the last ninety days. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in JOBY. State Street Corp raised its position in shares of Joby Aviation by 9.5% during the third quarter. State Street Corp now owns 9,372,636 shares of the company’s stock valued at $47,144,000 after buying an additional 812,248 shares during the last quarter. Geode Capital Management LLC grew its stake in Joby Aviation by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,390,720 shares of the company’s stock valued at $47,245,000 after acquiring an additional 670,852 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in Joby Aviation by 1,018.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 677,116 shares of the company’s stock valued at $3,453,000 after acquiring an additional 616,579 shares during the last quarter. Holocene Advisors LP lifted its stake in Joby Aviation by 91.7% in the 3rd quarter. Holocene Advisors LP now owns 521,327 shares of the company’s stock worth $2,622,000 after purchasing an additional 249,375 shares in the last quarter. Finally, Yarbrough Capital LLC bought a new position in shares of Joby Aviation during the 4th quarter valued at about $1,362,000. 52.85% of the stock is owned by hedge funds and other 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.