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

Joby Aviation, Inc. (NYSE:JOBY) saw a large increase in short interest during the month of 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 company’s shares are short sold. Based on an average trading volume of 36,140,334 shares, the days-to-cover ratio is currently 2.1 days. Based on an average trading volume of 36,140,334 shares, the days-to-cover ratio is currently 2.1 days. Currently, 12.2% of the company’s shares are short sold.

Insider Buying and Selling

In related news, CEO Joeben Bevirt sold 507,182 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $10.62, for a total value of $5,386,272.84. Following the completion of the transaction, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at approximately $339,816,657.24. This represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Didier Papadopoulos sold 6,429 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $15.84, for a total value of $101,835.36. Following the transaction, the insider directly owned 113,718 shares of the company’s stock, valued at $1,801,293.12. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 830,036 shares of company stock worth $9,779,090 over the last quarter. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

Large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Joby Aviation by 2.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 67,507 shares of the company’s stock worth $891,000 after buying an additional 1,476 shares during the last quarter. Verition Fund Management LLC lifted its position in Joby Aviation by 8.3% during the fourth quarter. Verition Fund Management LLC now owns 126,837 shares of the company’s stock worth $1,674,000 after acquiring an additional 9,681 shares during the last quarter. MML Investors Services LLC bought a new stake in shares of Joby Aviation during the fourth quarter worth approximately $215,000. Mariner LLC grew its position in shares of Joby Aviation by 5.6% in the fourth quarter. Mariner LLC now owns 116,080 shares of the company’s stock valued at $1,532,000 after purchasing an additional 6,154 shares during the last quarter. Finally, Nicholas Investment Partners LP increased its stake in shares of Joby Aviation by 15.5% during the fourth quarter. Nicholas Investment Partners LP now owns 372,129 shares of the company’s stock worth $4,912,000 after purchasing an additional 50,047 shares during the period. 52.85% of the stock is owned by institutional investors.

Joby Aviation Trading Up 0.2%

NYSE:JOBY traded up $0.02 on Monday, hitting $9.90. The company’s stock had a trading volume of 17,313,278 shares, compared to its average volume of 31,623,654. Joby Aviation has a one year low of $4.96 and a one year high of $20.95. The firm has a market capitalization of $9.02 billion, a P/E ratio of -7.39 and a beta of 2.57. The stock has a fifty day moving average of $13.41 and a two-hundred day moving average of $14.82.

Analysts Set New Price Targets

Several brokerages have commented on JOBY. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped 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. Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Joby Aviation in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. Finally, HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a report on Monday, November 24th. One equities research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.21.

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.