Joby Aviation (NYSE:JOBY) Sees Strong Trading Volume – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) saw unusually-strong trading volume on Thursday . Approximately 3,436,643 shares traded hands during trading, a decline of 45% from the previous session’s volume of 6,222,771 shares.The stock last traded at $6.33 and had previously closed at $6.24.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $10.50 target price on shares of Joby Aviation in a research note on Friday, October 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Joby Aviation in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price target on Joby Aviation from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a research note on Wednesday, October 2nd.

Joby Aviation Price Performance

The firm’s fifty day simple moving average is $5.31 and its 200 day simple moving average is $5.27.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.28 million. During the same quarter in the previous year, the company earned ($0.17) EPS. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In other news, insider Kate Dehoff sold 27,898 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the completion of the transaction, the insider now directly owns 199,413 shares of the company’s stock, valued at $1,096,771.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Kate Dehoff sold 27,898 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $5.50, for a total transaction of $153,439.00. Following the completion of the sale, the insider now directly owns 199,413 shares in the company, valued at approximately $1,096,771.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory Bowles sold 26,775 shares of Joby Aviation stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $5.14, for a total transaction of $137,623.50. Following the sale, the insider now directly owns 18,035 shares in the company, valued at approximately $92,699.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 525,499 shares of company stock valued at $2,667,151. 32.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock valued at $44,000 after purchasing an additional 5,840 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of Joby Aviation by 3,311.3% during the 3rd quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after acquiring an additional 10,000 shares during the last quarter. Integris Wealth Management LLC purchased a new stake in shares of Joby Aviation in the second quarter valued at about $54,000. Dakota Wealth Management acquired a new stake in Joby Aviation during the second quarter worth about $56,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Joby Aviation during the second quarter worth about $57,000. 45.54% 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.