Joby Aviation, Inc. (NYSE:JOBY) Short Interest Up 33.6% in January

Joby Aviation, Inc. (NYSE:JOBY) was the target of a large increase in short interest in January. As of January 30th, there was short interest totaling 75,337,432 shares, an increase of 33.6% from the January 15th total of 56,373,176 shares. Currently, 12.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 36,140,334 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 36,140,334 shares, the days-to-cover ratio is currently 2.1 days. Currently, 12.2% of the shares of the stock are sold short.

Insider Buying and Selling at Joby Aviation

In other news, insider Kate Dehoff sold 16,235 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $9.91, for a total transaction of $160,888.85. Following the transaction, the insider directly owned 149,369 shares in the company, valued at approximately $1,480,246.79. This represents a 9.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Allison sold 21,493 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.84, for a total transaction of $318,956.12. Following the completion of the sale, the insider directly owned 702,604 shares of the company’s stock, valued at approximately $10,426,643.36. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 830,036 shares of company stock worth $9,779,090 over the last 90 days. Company insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of hedge funds have recently bought and sold shares of JOBY. Toyota Motor Corp raised its stake in shares of Joby Aviation by 63.1% in the second quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock valued at $1,355,194,000 after buying an additional 49,701,790 shares during the period. Vanguard Group Inc. raised its stake in Joby Aviation by 5.1% in the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after acquiring an additional 2,540,382 shares during the period. Geode Capital Management LLC lifted its holdings in Joby Aviation by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 11,790,532 shares of the company’s stock valued at $155,671,000 after purchasing an additional 390,794 shares during the last quarter. State Street Corp lifted its holdings in Joby Aviation by 5.0% during the fourth quarter. State Street Corp now owns 10,812,929 shares of the company’s stock valued at $142,731,000 after purchasing an additional 512,129 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Joby Aviation by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,370,983 shares of the company’s stock worth $57,697,000 after purchasing an additional 271,475 shares during the period. 52.85% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Price Performance

NYSE JOBY traded up $0.08 on Tuesday, reaching $9.98. The stock had a trading volume of 15,713,523 shares, compared to its average volume of 30,759,029. Joby Aviation has a 1-year low of $4.96 and a 1-year high of $20.95. The company has a market cap of $9.10 billion, a P/E ratio of -7.45 and a beta of 2.57. The firm has a fifty day moving average of $13.41 and a two-hundred day moving average of $14.82.

Wall Street Analysts Forecast Growth

JOBY has been the topic of several research analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. Canaccord Genuity Group reissued a “hold” rating and issued a $15.50 target price on shares of Joby Aviation in a research report on Tuesday, February 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a research report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on shares of Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. One 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. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $13.21.

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.