Joby Aviation (NYSE:JOBY) Trading 1.3% Higher – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) were up 1.3% during trading on Monday . The company traded as high as $10.04 and last traded at $9.8250. Approximately 31,359,107 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 28,701,582 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

A number of analysts have weighed in on JOBY shares. Needham & Company LLC decreased their target price on shares of Joby Aviation to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Thursday, February 26th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $15.50 target price on shares of Joby Aviation in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $13.81.

Joby Aviation Price Performance

The company has a market cap of $8.70 billion, a price-to-earnings ratio of -8.37 and a beta of 2.59. The business’s fifty day moving average price is $11.54 and its 200 day moving average price is $13.87.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.06. The company had revenue of $30.84 million during the quarter, compared to analyst estimates of $16.88 million. The business’s revenue for the quarter was up 5506.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.34) earnings per share. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, insider Gregory Bowles sold 11,530 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $9.62, for a total value of $110,918.60. Following the sale, the insider directly owned 170,360 shares in the company, valued at $1,638,863.20. This represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kate Dehoff sold 8,539 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $9.88, for a total transaction of $84,365.32. Following the sale, the insider directly owned 159,877 shares of the company’s stock, valued at $1,579,584.76. This represents a 5.07% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,486,368 shares of company stock worth $16,211,332. Corporate insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GPS Wealth Strategies Group LLC increased its position in shares of Joby Aviation by 22.5% during the third quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock worth $61,000 after buying an additional 697 shares during the period. Asset Planning Inc lifted its holdings in Joby Aviation by 70.0% in the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares during the period. GoalVest Advisory LLC lifted its holdings in Joby Aviation by 2.1% in the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after buying an additional 700 shares during the period. Thrivent Financial for Lutherans boosted its position in Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Joby Aviation by 11.9% during the 2nd quarter. Allworth Financial LP now owns 7,197 shares of the company’s stock worth $76,000 after acquiring an additional 763 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Company Profile

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.