Joby Aviation (NYSE:JOBY) Trading Up 2.3% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 2.3% during trading on Thursday . The stock traded as high as $7.66 and last traded at $7.50. 3,317,281 shares changed hands during trading, a decline of 75% from the average session volume of 13,036,676 shares. The stock had previously closed at $7.33.

Analyst Upgrades and Downgrades

Several brokerages recently commented on JOBY. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on Joby Aviation from $9.75 to $11.50 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Joby Aviation from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $5.00 to $6.00 in a research note on Friday, January 10th. Finally, Needham & Company LLC boosted their price target on Joby Aviation from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Joby Aviation Stock Up 3.6 %

The firm has a 50 day moving average of $8.32 and a 200-day moving average of $6.58. The firm has a market capitalization of $6.01 billion, a P/E ratio of -11.22 and a beta of 2.33.

Insider Buying and Selling

In other news, insider Gregory Bowles sold 7,748 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $62,603.84. Following the completion of the sale, the insider now owns 29,235 shares of the company’s stock, valued at approximately $236,218.80. This represents a 20.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joeben Bevirt sold 10,785 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $7.43, for a total value of $80,132.55. Following the sale, the chief executive officer now owns 793,036 shares of the company’s stock, valued at $5,892,257.48. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,025,284 shares of company stock worth $8,683,241. Company insiders own 32.40% of the company’s stock.

Institutional Trading of Joby Aviation

Institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. bought a new position in shares of Joby Aviation in the fourth quarter worth about $38,000. Allworth Financial LP lifted its stake in Joby Aviation by 200.6% in the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after purchasing an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in Joby Aviation in the 4th quarter valued at approximately $41,000. Salem Investment Counselors Inc. lifted its stake in shares of Joby Aviation by 5,000.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 5,100 shares of the company’s stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Joby Aviation in the 4th quarter valued at $42,000. 52.85% of the stock is currently owned by 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.