Joby Aviation (NYSE:JOBY) Shares Up 10.7% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY)’s stock price traded up 10.7% during mid-day trading on Monday . The stock traded as high as $9.39 and last traded at $9.3990. Approximately 15,325,893 shares traded hands during trading, a decline of 49% from the average daily volume of 30,087,768 shares. The stock had previously closed at $8.49.

Analyst Upgrades and Downgrades

JOBY has been the topic of several recent analyst reports. Canaccord Genuity Group dropped their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Morgan Stanley dropped their target price on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Joby Aviation currently has an average rating of “Reduce” and an average target price of $13.64.

Joby Aviation Trading Up 8.2%

The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -8.04 and a beta of 2.71. The company has a fifty day moving average price of $9.93 and a 200-day moving average price of $10.76. The company has a current ratio of 22.06, a quick ratio of 22.05 and a debt-to-equity ratio of 0.36.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The firm had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.During the same quarter in the prior year, the company posted ($0.11) earnings per share. On average, equities research analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.

Insider Buying and Selling at Joby Aviation

In related news, CFO Rodrigo Brumana sold 78,489 shares of Joby Aviation stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $11.30, for a total value of $886,925.70. Following the completion of the sale, the chief financial officer owned 81,694 shares of the company’s stock, valued at approximately $923,142.20. The trade was a 49.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kate Dehoff sold 14,295 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $8.73, for a total transaction of $124,795.35. Following the completion of the sale, the insider owned 163,567 shares of the company’s stock, valued at $1,427,939.91. This represents a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,523,389 shares of company stock worth $15,808,850 in the last ninety days. Company insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC acquired a new stake in Joby Aviation in the 1st quarter worth approximately $131,000. J. Derek Lewis & Associates Inc. acquired a new position in Joby Aviation during the first quarter valued at approximately $121,000. Western Wealth Management LLC acquired a new stake in shares of Joby Aviation in the first quarter worth $37,000. Edgestream Partners L.P. acquired a new stake in shares of Joby Aviation in the first quarter worth $1,189,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of Joby Aviation during the 1st quarter worth $90,000. Institutional investors and hedge funds own 52.85% of the company’s stock.

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.