Joby Aviation (NYSE:JOBY) Shares Gap Up to $5.78

Joby Aviation, Inc. (NYSE:JOBYGet Free Report)’s share price gapped up prior to trading on Friday . The stock had previously closed at $5.78, but opened at $6.00. Joby Aviation shares last traded at $5.88, with a volume of 1,332,393 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.60.

View Our Latest Research Report on Joby Aviation

Joby Aviation Trading Up 2.6 %

The company has a market cap of $4.11 billion, a PE ratio of -7.91 and a beta of 2.12. The business’s 50-day simple moving average is $6.21 and its 200-day simple moving average is $6.49.

Insider Transactions at Joby Aviation

In other news, insider Gregory Bowles sold 18,847 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $6.06, for a total transaction of $114,212.82. Following the transaction, the insider now owns 18,805 shares in the company, valued at approximately $113,958.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Gregory Bowles sold 18,847 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $6.06, for a total transaction of $114,212.82. Following the transaction, the insider now owns 18,805 shares in the company, valued at approximately $113,958.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dipender Saluja sold 119,001 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $6.07, for a total transaction of $722,336.07. Following the completion of the sale, the director now owns 10,074,888 shares in the company, valued at $61,154,570.16. The disclosure for this sale can be found here. Insiders have sold a total of 682,379 shares of company stock worth $4,409,033 in the last 90 days. 49.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rheos Capital Works Inc. bought a new position in shares of Joby Aviation during the 3rd quarter worth about $6,224,000. Geode Capital Management LLC lifted its holdings in shares of Joby Aviation by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 6,012,621 shares of the company’s stock worth $61,690,000 after acquiring an additional 866,873 shares during the period. Swiss National Bank lifted its holdings in Joby Aviation by 2.0% during the 2nd quarter. Swiss National Bank now owns 342,100 shares of the company’s stock valued at $3,510,000 after purchasing an additional 6,700 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Joby Aviation by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 30,717 shares of the company’s stock valued at $315,000 after purchasing an additional 2,514 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Joby Aviation by 6.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,119,664 shares of the company’s stock valued at $7,222,000 after purchasing an additional 66,803 shares during the last quarter. 36.28% of the stock is owned by institutional investors.

About Joby Aviation

(Get Free Report)

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.

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