Joby Aviation (NYSE:JOBY) Shares Up 3.7% – Here’s What Happened
by Amy Steele · The Cerbat GemJoby Aviation, Inc. (NYSE:JOBY – Get Free Report) shares were up 3.7% on Monday . The stock traded as high as $15.40 and last traded at $14.7530. Approximately 18,176,780 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 26,229,598 shares. The stock had previously closed at $14.22.
Analyst Ratings Changes
Several equities research analysts have commented on JOBY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research note on Wednesday, October 8th. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Morgan Stanley increased their target price on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a research report on Monday, December 1st. They set a “sell” rating and a $10.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Joby Aviation in a research note on Thursday, November 6th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Joby Aviation presently has an average rating of “Reduce” and a consensus price target of $13.43.
Read Our Latest Research Report on Joby Aviation
Joby Aviation Price Performance
The company has a fifty day moving average of $15.16 and a two-hundred day moving average of $14.48. The stock has a market capitalization of $13.45 billion, a P/E ratio of -11.01 and a beta of 2.53.
Joby Aviation (NYSE:JOBY – Get Free Report) last released its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The business had revenue of $22.57 million during the quarter, compared to the consensus estimate of $0.02 million. The firm’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. As a group, equities research analysts predict that Joby Aviation, Inc. will post -0.69 EPS for the current fiscal year.
Insider Activity
In other Joby Aviation news, insider Kate Dehoff sold 20,824 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $17.48, for a total value of $364,003.52. Following the completion of the transaction, the insider owned 149,369 shares in the company, valued at approximately $2,610,970.12. This represents a 12.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 1,979 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $14.08, for a total transaction of $27,864.32. Following the completion of the sale, the insider owned 101,779 shares in the company, valued at $1,433,048.32. The trade was a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 588,994 shares of company stock valued at $9,660,128. 28.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Asset Planning Inc raised its stake in shares of Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares in the last quarter. Strategic Advocates LLC bought a new position in Joby Aviation in the 3rd quarter valued at about $29,000. Canton Hathaway LLC acquired a new position in Joby Aviation during the 3rd quarter valued at about $29,000. Hilltop National Bank bought a new stake in shares of Joby Aviation during the 3rd quarter worth about $32,000. Finally, Ancora Advisors LLC bought a new stake in shares of Joby Aviation during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 52.85% of the company’s stock.
About Joby Aviation
Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.
The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.