Joby Aviation (NYSE:JOBY) Trading Up 10.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) shares rose 10.7% during trading on Monday . The stock traded as high as $9.39 and last traded at $9.3990. 15,325,893 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 30,087,768 shares. The stock had previously closed at $8.49.

Analysts Set New Price Targets

A number of research firms have issued reports on JOBY. Morgan Stanley decreased their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Canaccord Genuity Group lowered their target price on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a report on Thursday, May 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Joby Aviation in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $13.64.

Joby Aviation Stock Up 8.2%

The firm’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 22.05 and a current ratio of 22.06. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of -8.04 and a beta of 2.71.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million during the quarter, compared to analyst estimates of $20.17 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Sell-side analysts forecast that Joby Aviation, Inc. will post -0.83 earnings per share for the current year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, CFO Rodrigo Brumana sold 78,489 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $11.30, for a total value of $886,925.70. Following the completion of the sale, the chief financial officer owned 81,694 shares in the company, valued at approximately $923,142.20. This trade represents a 49.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paul Cahill Sciarra sold 416,666 shares of Joby Aviation stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total value of $5,008,325.32. Following the sale, the director directly owned 55,911,391 shares in the company, valued at $672,054,919.82. The trade was a 0.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,523,389 shares of company stock worth $15,808,850. 32.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Lingotto Investment Management LLP lifted its stake in Joby Aviation by 34.2% during the fourth quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock worth $41,425,000 after purchasing an additional 799,260 shares during the period. DNB Asset Management AS grew its stake in shares of Joby Aviation by 16.3% in the 4th quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after purchasing an additional 51,344 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Joby Aviation in the 3rd quarter worth approximately $2,830,000. Vanguard Group Inc. raised its holdings in shares of Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after buying an additional 2,540,382 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Joby Aviation during the 4th quarter worth approximately $32,269,000. Institutional investors 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.