Joby Aviation (NYSE:JOBY) Trading Up 6.3% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 6.3% during trading on Tuesday . The stock traded as high as $8.35 and last traded at $8.33. Approximately 8,134,651 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 13,099,999 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

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

Joby Aviation Stock Performance

The stock has a market capitalization of $5.72 billion, a P/E ratio of -10.68 and a beta of 2.33. The stock has a 50-day moving average price of $8.27 and a two-hundred day moving average price of $6.64.

Insider Activity at Joby Aviation

In other news, CEO Joeben Bevirt sold 23,886 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.08, for a total value of $192,998.88. Following the completion of the transaction, the chief executive officer now owns 768,293 shares in the company, valued at $6,207,807.44. This trade represents a 3.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul Cahill Sciarra sold 333,332 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $8.00, for a total transaction of $2,666,656.00. Following the sale, the director now owns 58,994,729 shares in the company, valued at approximately $471,957,832. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,023,005 shares of company stock worth $8,667,288 over the last quarter. Corporate insiders own 32.40% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in shares of Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares during the last quarter. Whittier Trust Co. purchased a new stake in Joby Aviation during the 4th quarter valued at $38,000. Salem Investment Counselors Inc. increased its holdings 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 worth $41,000 after purchasing an additional 5,000 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation in the fourth quarter worth $41,000. Finally, Toronto Dominion Bank purchased a new position in shares of Joby Aviation in the fourth quarter worth $41,000. 52.85% of the stock is 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.