Joby Aviation (NYSE:JOBY) Trading 1.8% Higher – What’s Next?

Shares of Joby Aviation, Inc. (NYSE:JOBY) traded up 1.8% during mid-day trading on Thursday . The stock traded as high as $10.29 and last traded at $10.2760. 14,246,967 shares changed hands during trading, a decline of 53% from the average session volume of 30,059,482 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

JOBY has been the subject of several research reports. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th. JPMorgan Chase & Co. boosted their price target on shares of Joby Aviation from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Joby Aviation in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation has an average rating of “Reduce” and a consensus price target of $13.21.

Joby Aviation Stock Up 1.8%

The business has a fifty day simple moving average of $13.20 and a 200-day simple moving average of $14.74. The firm has a market cap of $9.37 billion, a P/E ratio of -7.67 and a beta of 2.57.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,366 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $9.74, for a total value of $62,004.84. Following the transaction, the insider owned 128,548 shares in the company, valued at approximately $1,252,057.52. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Allison sold 9,815 shares of the firm’s 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 $96,972.20. Following the sale, the insider directly owned 713,268 shares of the company’s stock, valued at $7,047,087.84. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,463,528 shares of company stock valued at $16,054,224. 28.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Joby Aviation by 110.5% during the first quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock valued at $512,000 after buying an additional 44,659 shares during the last quarter. AQR Capital Management LLC bought a new position in Joby Aviation during the 1st quarter valued at about $273,000. Strs Ohio purchased a new stake in shares of Joby Aviation during the 1st quarter valued at about $37,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Joby Aviation by 18.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 56,870 shares of the company’s stock worth $600,000 after acquiring an additional 8,750 shares during the period. Finally, CWM LLC raised its holdings in shares of Joby Aviation by 8.1% during the second quarter. CWM LLC now owns 9,156 shares of the company’s stock valued at $97,000 after purchasing an additional 689 shares during the last quarter. Institutional investors own 52.85% of the company’s stock.

About Joby Aviation

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.