Joby Aviation (NYSE:JOBY) Trading 1% Higher After Analyst Upgrade

Joby Aviation, Inc. (NYSE:JOBY)’s stock price rose 1% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $5.00 to $6.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Joby Aviation traded as high as $6.28 and last traded at $6.24. Approximately 1,859,773 shares traded hands during trading, a decline of 66% from the average daily volume of 5,504,058 shares. The stock had previously closed at $6.18.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the sale, the insider now owns 199,413 shares of the company’s stock, valued at $1,348,031.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 32,724,274 shares in the company, valued at approximately $159,039,971.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,982 shares of company stock valued at $1,713,310. 32.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Joby Aviation

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Joby Aviation by 20.6% during the 3rd 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Joby Aviation during the fourth quarter worth $1,454,000. International Assets Investment Management LLC acquired a new stake in shares of Joby Aviation during the fourth quarter worth $73,000. Prime Capital Investment Advisors LLC raised its stake in shares of Joby Aviation by 18.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 20,317 shares of the company’s stock valued at $135,000 after purchasing an additional 3,120 shares during the period. Finally, Baillie Gifford & Co. boosted its position in Joby Aviation by 10.3% during the 4th quarter. Baillie Gifford & Co. now owns 56,320,441 shares of the company’s stock worth $374,531,000 after acquiring an additional 5,267,436 shares during the last quarter. Institutional investors and hedge funds own 45.54% of the company’s stock.

Joby Aviation Trading Up 1.0 %

The firm’s 50 day moving average price is $5.34 and its two-hundred day moving average price is $5.39. The company has a market capitalization of $4.42 billion, a P/E ratio of -8.21 and a beta of 2.00.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.05 million. The company’s quarterly revenue was down 97.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.16) earnings per share. Analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

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.