Joby Aviation (NYSE:JOBY) Shares Up 3.1%

Joby Aviation, Inc. (NYSE:JOBY) traded up 3.1% during mid-day trading on Tuesday . The stock traded as high as $6.73 and last traded at $6.67. 1,988,980 shares traded hands during trading, a decline of 64% from the average session volume of 5,475,079 shares. The stock had previously closed at $6.47.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on shares of Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday.

Joby Aviation Stock Performance

The stock has a market cap of $4.38 billion, a PE ratio of -8.21 and a beta of 2.00. The firm has a 50-day moving average price of $5.34 and a 200-day moving average price of $5.39.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.03. The firm had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. The firm’s revenue for the quarter was down 97.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) earnings per share. As a group, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $1,215,000.00. Following the completion of the sale, the chief executive officer now owns 32,724,274 shares of the company’s stock, valued at approximately $159,039,971.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $1,215,000.00. Following the completion of the sale, the chief executive officer now owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Insiders sold a total of 345,982 shares of company stock worth $1,713,310 in the last three months. Insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. 8VC GP I LLC bought a new stake in shares of Joby Aviation in the fourth quarter worth $95,727,000. Vanguard Group Inc. boosted its position in Joby Aviation by 20.6% in the third quarter. Vanguard Group Inc. now owns 34,130,744 shares of the company’s stock worth $220,143,000 after purchasing an additional 5,819,837 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock valued at $374,531,000 after purchasing an additional 5,267,436 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Joby Aviation during the 1st quarter valued at about $15,357,000. Finally, Lingotto Investment Management LLP lifted its stake in shares of Joby Aviation by 129.8% in the 4th quarter. Lingotto Investment Management LLP now owns 2,088,980 shares of the company’s stock worth $13,892,000 after purchasing an additional 1,180,000 shares during the period. 45.54% of the stock is currently owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

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.