Joby Aviation (NYSE:JOBY) Stock Price Up 0.7%

Joby Aviation, Inc. (NYSE:JOBY) shares rose 0.7% during mid-day trading on Friday . The company traded as high as $5.48 and last traded at $5.39. Approximately 899,755 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 5,500,405 shares. The stock had previously closed at $5.35.

Wall Street Analysts Forecast Growth

JOBY has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Joby Aviation from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Monday. Canaccord Genuity Group cut their target price on Joby Aviation from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, HC Wainwright initiated coverage on Joby Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $9.00 price objective for the company.

Joby Aviation Stock Performance

The business has a 50-day moving average of $5.52 and a 200-day moving average of $5.23. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -7.09 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last released its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts predict that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Joby Aviation

In other Joby Aviation news, insider Kate Dehoff sold 5,815 shares of Joby Aviation stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the completion of the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Joeben Bevirt sold 250,000 shares of Joby Aviation stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kate Dehoff sold 5,815 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $6.76, for a total value of $39,309.40. Following the sale, the insider now owns 199,413 shares of the company’s stock, valued at approximately $1,348,031.88. The disclosure for this sale can be found here. Insiders sold a total of 326,032 shares of company stock valued at $1,613,336 in the last three months. 32.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its holdings in shares of Joby Aviation by 25.2% in the fourth quarter. Victory Capital Management Inc. now owns 51,534 shares of the company’s stock valued at $343,000 after acquiring an additional 10,367 shares during the period. Private Advisor Group LLC acquired a new stake in shares of Joby Aviation in the fourth quarter valued at approximately $77,000. Apollon Wealth Management LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $88,000. Charles Schwab Investment Management Inc. raised its stake in shares of Joby Aviation by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company’s stock worth $25,394,000 after purchasing an additional 64,404 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Joby Aviation during the fourth quarter worth approximately $86,000. 45.54% of the stock is owned by institutional investors and hedge funds.

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.