Joby Aviation (NYSE:JOBY) Stock Price Up 4.9% – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) shot up 4.9% during trading on Friday . The company traded as high as $8.77 and last traded at $8.63. 4,483,075 shares changed hands during trading, a decline of 68% from the average session volume of 13,822,883 shares. The stock had previously closed at $8.23.

Wall Street Analyst Weigh In

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

Joby Aviation Price Performance

The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of -11.81 and a beta of 2.33. The business’s 50-day moving average price is $8.39 and its 200 day moving average price is $6.51.

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

Insider Buying and Selling at Joby Aviation

In related news, insider Gregory Bowles sold 7,748 shares of Joby Aviation stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.08, for a total value of $62,603.84. Following the completion of the transaction, the insider now directly owns 29,235 shares in the company, valued at approximately $236,218.80. This trade represents a 20.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $7.65, for a total value of $45,938.25. Following the sale, the insider now owns 54,776 shares in the company, valued at $419,036.40. The trade was a 9.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 672,338 shares of company stock worth $5,864,050 in the last 90 days. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its holdings in Joby Aviation by 14.6% in the fourth quarter. New York State Common Retirement Fund now owns 124,751 shares of the company’s stock worth $1,014,000 after purchasing an additional 15,900 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Joby Aviation in the 4th quarter valued at about $117,000. Baillie Gifford & Co. grew its position in shares of Joby Aviation by 4.3% during the 4th quarter. Baillie Gifford & Co. now owns 55,032,165 shares of the company’s stock valued at $447,412,000 after buying an additional 2,281,161 shares during the last quarter. Allworth Financial LP raised its stake in Joby Aviation by 200.6% during the fourth quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock worth $44,000 after acquiring an additional 3,320 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Joby Aviation by 8.6% in the fourth quarter. Rhumbline Advisers now owns 594,419 shares of the company’s stock worth $4,833,000 after acquiring an additional 47,070 shares during the last quarter. Institutional investors and hedge funds 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.