Joby Aviation (NYSE:JOBY) Shares Up 3.7% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 3.7% during trading on Friday . The stock traded as high as $6.48 and last traded at $6.56. 4,709,208 shares were traded during mid-day trading, a decline of 56% from the average session volume of 10,603,933 shares. The stock had previously closed at $6.33.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $9.00 price target on shares of Joby Aviation in a research report on Thursday, February 27th. Canaccord Genuity Group increased their price target on shares of Joby Aviation from $9.75 to $11.50 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of Joby Aviation in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.90.

Joby Aviation Price Performance

The stock’s 50-day moving average is $7.45 and its 200-day moving average is $6.85. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of -9.31 and a beta of 2.35.

Insiders Place Their Bets

In other Joby Aviation news, insider Kate Dehoff sold 6,903 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $7.43, for a total transaction of $51,289.29. Following the transaction, the insider now owns 202,276 shares of the company’s stock, valued at $1,502,910.68. This trade represents a 3.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 7,692 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $10.00, for a total transaction of $76,920.00. Following the transaction, the insider now directly owns 50,902 shares in the company, valued at approximately $509,020. This represents a 13.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,015,470 shares of company stock valued at $8,600,479 over the last quarter. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently made changes to their positions in JOBY. Empowered Funds LLC purchased a new position in shares of Joby Aviation in the 3rd quarter valued at $51,000. Caprock Group LLC raised its stake in shares of Joby Aviation by 179.5% in the 3rd quarter. Caprock Group LLC now owns 124,404 shares of the company’s stock valued at $626,000 after acquiring an additional 79,896 shares during the period. Intech Investment Management LLC purchased a new position in shares of Joby Aviation in the 3rd quarter valued at $518,000. Larson Financial Group LLC raised its stake in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after acquiring an additional 5,000 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in shares of Joby Aviation in the 3rd quarter valued at $79,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

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.