Joby Aviation (NYSE:JOBY) Trading Up 1.6% – Here’s Why

Joby Aviation, Inc. (NYSE:JOBY) shares traded up 1.6% during mid-day trading on Monday . The stock traded as high as $10.75 and last traded at $10.69. 24,683,915 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 32,943,938 shares. The stock had previously closed at $10.52.

Analyst Upgrades and Downgrades

JOBY has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. Canaccord Genuity Group reiterated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a research note on Tuesday, February 3rd. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. The Goldman Sachs Group assumed coverage on shares of Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. 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. Based on data from MarketBeat.com, Joby Aviation currently has a consensus rating of “Reduce” and a consensus price target of $13.21.

Joby Aviation Trading Up 1.6%

The stock’s fifty day moving average price is $13.91 and its two-hundred day moving average price is $15.07.

Insider Buying and Selling

In other Joby Aviation news, CEO Joeben Bevirt sold 23,552 shares of Joby Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.51, for a total value of $318,187.52. Following the transaction, the chief executive officer owned 288,814 shares in the company, valued at $3,901,877.14. The trade was a 7.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bonny W. Simi sold 110,173 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $13.85, for a total value of $1,525,896.05. Following the transaction, the insider directly owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. The trade was a 46.82% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 297,750 shares of company stock worth $4,138,695. 32.40% of the stock is owned by company insiders.

Institutional Trading of Joby Aviation

A number of hedge funds have recently added to or reduced their stakes in JOBY. Toyota Motor Corp grew its position in Joby Aviation by 63.1% during the 2nd quarter. Toyota Motor Corp now owns 128,454,401 shares of the company’s stock worth $1,355,194,000 after acquiring an additional 49,701,790 shares during the last quarter. Vanguard Group Inc. raised its position in Joby Aviation by 5.1% in the fourth quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock valued at $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 in the last quarter. State Street Corp boosted its position in Joby Aviation by 3.0% during the 2nd 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 period. Finally, Rheos Capital Works Inc. lifted 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 purchasing an additional 2,650,000 shares during the period. Institutional investors and hedge funds 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.