On Friday, ) rose 7.6%. The stock reached a high of $4.26 before trading at $4.26. A total of 2,721,472 stocks were traded at midday, which is a 1% increase over the daily average of 2,697 2,295 shares. Stock had closed previously at $3.96.
Wall Street analysts weigh in
JOBY was the subject of several research analyst reports. In a research report published on March 7th, Deutsche Bank Aktiengesellschaft lowered the price target for Joby Aviation shares from $6.00 down to $4.00. Morgan Stanley dropped its price target on shares of Joby Aviation, from $11.00 down to $10.00 and assigned the company an 'overweight rating' in a research report on Monday, Feb. 27th. One equity research analyst rated the stock as a sell, three analysts assigned a "hold" rating and another gave a "buy" rating. The company has a market capitalization of $2.70 Billion, a PE of -9.33, and a beta value of 1.59. The stock's fifty-day moving price is $4.12, and its 200-day moving price is $4.08.
The company last released its earnings results on February 22nd. The company posted ($0.14) in earnings per share for the third quarter, exceeding analysts' expectations of ($0.18) ($0.04) by $0.04. Analysts predict that Joby Aviation, Inc., as a whole, will report -0.66 per share earnings for the current fiscal.
Joby Aviation: Insider Transactions
Gregory Bowles, an insider, sold 42,151 of the company's shares in a deal dated February 23rd. The stock was bought at $5.00 on average, resulting in a transaction worth $210,755.00. After the completion of this sale, the insider owns 32.851 shares valued at $164.255. Gregory Bowles, an insider at Joby Aviation, sold 42,151 of its shares in a deal that took place on Thursday, 23rd February. The stock was bought at a price of $5.00 on average, resulting in a value of $210 755.00. After the completion of the deal, the insider owns 32.851 shares valued at $164.255. The company sold 26,215 of its shares in a deal that took place on Tuesday, 4th April. The stock was bought at $4.17 on average, for a value of $109 316.55. After the transaction was completed, the CEO now owns approximately 2,131,975.05. worth of stock. Insiders sold 120.260 shares worth $559.960 in the last quarter. Insiders own 51.30%.
Joby Aviation: Hedge Funds weigh in
A number of institutional and hedge funds recently purchased and sold shares in JOBY. Vanguard Group Inc. increased its holdings of Joby Aviation in the first quarter by 114.5%. Vanguard Group Inc. owns now 14,405,592 of the company stock valued at $95,365,000, after adding 7,691,093 additional shares. Renaissance Technologies LLC acquired a new stake in Joby Aviation shares during the first quarter, valued at about $16,408,000. State Street Corp increased its stake in Joby Aviation shares by 37.5% over the second quarter. State Street Corp owns 6,752,316 of the company’s stock, valued at $33,154,000. This is after purchasing an additional 1,840 567 shares in the last quarter. Northern Trust Corp increased its stake in Joby Aviation shares by 358,7% during the second quarter. Northern Trust Corp owns 2,126.271 shares worth $10,440,000, after purchasing an additional 1,662,759 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Joby Aviation shares by 50.1% over the first quarter. Sumitomo Mitsui Trust Holdings Inc. owns 4,240.736 shares valued at $18,405,000, after purchasing an additional 1,416,314 during the last quarter. Hedge funds and institutional investors hold 29.14% the company's shares.
Joby Aviation Company profile
Joby Aviation, Inc, an air mobility vertically integrated company, builds electric vertical takeoffs and landings aircraft that are optimized for air transportation services. It plans to create an aerial ridesharing company. The company was founded by Santa Cruz, California in 2009.
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