Joby Aviation (NYSE:JOBY) Trading 4.7% Higher Following Analyst Upgrade

Joby Aviation, Inc. (NYSE:JOBY) shares were up 4.7% during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $8.00 to $10.00. Needham & Company LLC currently has a buy rating on the stock. Joby Aviation traded as high as $8.49 and last traded at $8.23. Approximately 5,609,354 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 18,065,621 shares. The stock had previously closed at $7.86.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, December 18th. Canaccord Genuity Group raised their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $5.00 to $6.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Joby Aviation has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Insider Buying and Selling at Joby Aviation

In related news, insider Gregory Bowles sold 7,748 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the sale, the insider now owns 29,235 shares of the company’s stock, valued at $236,218.80. The trade was a 20.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Didier Papadopoulos sold 6,005 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now owns 54,776 shares of the company’s stock, valued at $419,036.40. This represents a 9.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 638,982 shares of company stock valued at $5,586,157 in the last 90 days. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently made changes to their positions in JOBY. Larson Financial Group LLC lifted its holdings in Joby Aviation by 218.3% during the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after purchasing an additional 5,000 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Joby Aviation by 5,000.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock worth $41,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Joby Aviation in the third quarter valued at approximately $51,000. Sound Income Strategies LLC boosted its holdings in shares of Joby Aviation by 3,311.3% in the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock worth $52,000 after acquiring an additional 10,000 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Joby Aviation by 403.0% during the 3rd quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock worth $58,000 after acquiring an additional 9,188 shares during the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Up 4.2 %

The stock has a fifty day moving average of $7.75 and a two-hundred day moving average of $6.26. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of -11.70 and a beta of 2.33.

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