Joby Aviation (NYSE:JOBY) Director Michael Jr. Thompson Acquires 1,100 Shares

Joby Aviation, Inc. (NYSE:JOBY) Director Michael Jr. Thompson bought 1,100 shares of Joby Aviation stock in a transaction dated Wednesday, December 31st. The stock was acquired at an average cost of $13.24 per share, with a total value of $14,564.00. Following the transaction, the director owned 550 shares of the company’s stock, valued at $7,282. This trade represents a -200.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Joby Aviation Stock Up 8.8%

Shares of Joby Aviation stock opened at $14.37 on Friday. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of -10.72 and a beta of 2.56. Joby Aviation, Inc. has a twelve month low of $4.96 and a twelve month high of $20.95. The company has a 50-day simple moving average of $14.64 and a two-hundred day simple moving average of $14.76.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The firm had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The company’s revenue for the quarter was up 7962.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.21) earnings per share. On average, sell-side analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Toyota Motor Corp grew its holdings in shares of Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after purchasing an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. boosted its position in Joby Aviation by 13.2% in the third quarter. Vanguard Group Inc. now owns 49,948,325 shares of the company’s stock valued at $806,166,000 after buying an additional 5,828,189 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Joby Aviation by 5.4% during the second quarter. Geode Capital Management LLC now owns 11,109,935 shares of the company’s stock worth $117,230,000 after buying an additional 573,328 shares during the last quarter. State Street Corp grew its stake in shares of Joby Aviation by 3.0% during the second quarter. State Street Corp now owns 10,392,018 shares of the company’s stock worth $109,636,000 after buying an additional 305,109 shares during the last quarter. Finally, Rheos Capital Works Inc. increased its holdings in shares of Joby Aviation by 58.2% during the second quarter. Rheos Capital Works Inc. now owns 7,205,000 shares of the company’s stock worth $76,013,000 after buying an additional 2,650,000 shares in the last quarter. Institutional investors own 52.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on JOBY shares. JPMorgan Chase & Co. increased their target price on Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 target price for the company. Finally, Morgan Stanley upped their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $13.43.

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.