Joby Aviation (NYSE:JOBY) Shares Gap Up to $6.54

Shares of Joby Aviation, Inc. (NYSE:JOBY) gapped up before the market opened on Monday . The stock had previously closed at $6.54, but opened at $6.72. Joby Aviation shares last traded at $6.63, with a volume of 1,410,653 shares.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Cantor Fitzgerald raised their price objective on Joby Aviation from $9.00 to $10.00 in a report on Thursday, August 3rd. JPMorgan Chase & Co. downgraded shares of Joby Aviation from a “neutral” rating to an “underweight” rating and increased their target price for the stock from $5.00 to $6.00 in a research note on Wednesday, July 19th. SpectralCast reiterated a “maintains” rating on shares of Joby Aviation in a research note on Friday, June 30th. Canaccord Genuity Group started coverage on shares of Joby Aviation in a research note on Friday, June 9th. They set a “buy” rating and a $8.00 target price for the company. Finally, 888 reiterated a “maintains” rating on shares of Joby Aviation in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.08.

Joby Aviation Stock Performance

The stock’s 50-day moving average price is $7.99 and its 200-day moving average price is $6.28. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of -7.81 and a beta of 2.11.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). Analysts anticipate that Joby Aviation, Inc. will post -0.66 earnings per share for the current year.

Insider Activity

In other news, insider Matthew Field sold 15,769 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $9.50, for a total transaction of $149,805.50. Following the completion of the transaction, the insider now directly owns 256,429 shares of the company’s stock, valued at approximately $2,436,075.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Matthew Field sold 15,769 shares of the firm’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $9.50, for a total transaction of $149,805.50. Following the completion of the transaction, the insider now directly owns 256,429 shares of the company’s stock, valued at approximately $2,436,075.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kate Dehoff sold 10,821 shares of Joby Aviation stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $9.00, for a total transaction of $97,389.00. Following the completion of the sale, the insider now directly owns 150,258 shares of the company’s stock, valued at $1,352,322. The disclosure for this sale can be found here. In the last three months, insiders sold 2,011,251 shares of company stock worth $18,985,585. Company insiders own 49.50% of the company’s stock.

Institutional Trading of Joby Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of JOBY. Harbour Investments Inc. grew its stake in Joby Aviation by 155.0% in the 2nd quarter. Harbour Investments Inc. now owns 2,468 shares of the company’s stock worth $25,000 after acquiring an additional 1,500 shares during the period. FMR LLC boosted its holdings in shares of Joby Aviation by 60.7% in the 1st quarter. FMR LLC now owns 6,065 shares of the company’s stock valued at $26,000 after purchasing an additional 2,290 shares during the last quarter. CWM LLC boosted its holdings in shares of Joby Aviation by 78.4% in the 1st quarter. CWM LLC now owns 8,301 shares of the company’s stock valued at $36,000 after purchasing an additional 3,649 shares during the last quarter. Toroso Investments LLC acquired a new position in shares of Joby Aviation in the 4th quarter valued at $36,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Joby Aviation in the 4th quarter valued at $39,000. 36.28% of the stock is owned by hedge funds and other institutional investors.

Joby Aviation Company Profile

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.