Joby Aviation (NYSE:JOBY) Shares Gap Up to $5.46

Joby Aviation, Inc. (NYSE:JOBY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.46, but opened at $5.86. Joby Aviation shares last traded at $5.90, with a volume of 1,972,378 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered 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 report on Wednesday, July 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.60.

Joby Aviation Stock Up 6.1 %

The business’s 50-day moving average price is $6.18 and its 200 day moving average price is $6.86. The company has a market capitalization of $4.26 billion, a P/E ratio of -8.18 and a beta of 2.17.

Insider Activity

In other news, insider Didier Papadopoulos sold 5,968 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $6.72, for a total value of $40,104.96. Following the completion of the transaction, the insider now directly owns 5,673 shares in the company, valued at $38,122.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Didier Papadopoulos sold 5,968 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $6.72, for a total value of $40,104.96. Following the sale, the insider now directly owns 5,673 shares of the company’s stock, valued at $38,122.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew Field sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $6.02, for a total transaction of $126,420.00. Following the completion of the sale, the insider now directly owns 203,978 shares in the company, valued at $1,227,947.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 291,250 shares of company stock worth $1,814,923. 49.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in JOBY. Advisor Group Holdings Inc. raised its stake in shares of Joby Aviation by 40.5% during the first quarter. Advisor Group Holdings Inc. now owns 44,453 shares of the company’s stock worth $295,000 after acquiring an additional 12,810 shares in the last quarter. Raymond James & Associates raised its stake in shares of Joby Aviation by 47.0% during the first quarter. Raymond James & Associates now owns 84,841 shares of the company’s stock worth $562,000 after acquiring an additional 27,114 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Joby Aviation in the first quarter worth $108,000. Citigroup Inc. increased its stake in shares of Joby Aviation by 281.9% in the first quarter. Citigroup Inc. now owns 55,694 shares of the company’s stock worth $369,000 after buying an additional 41,110 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Joby Aviation by 368.2% in the first quarter. PNC Financial Services Group Inc. now owns 50,100 shares of the company’s stock worth $332,000 after buying an additional 39,400 shares during the period. 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.