Michael Jr. Thompson Acquires 1,100 Shares of Joby Aviation (NYSE:JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) Director Michael Jr. Thompson purchased 1,100 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were purchased at an average cost of $13.24 per share, for a total transaction of $14,564.00. Following the completion of the transaction, the director directly owned 550 shares of the company’s stock, valued at approximately $7,282. This represents a -200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Joby Aviation Price Performance

Joby Aviation stock opened at $14.37 on Friday. The company’s 50-day moving average is $14.64 and its 200-day moving average is $14.80. The firm has a market capitalization of $13.10 billion, a PE ratio of -10.72 and a beta of 2.56. Joby Aviation, Inc. has a fifty-two week low of $4.96 and a fifty-two week high of $20.95.

Joby Aviation (NYSE:JOBY) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.29). The company had revenue of $22.57 million during the quarter, compared to analyst estimates of $0.02 million. The business’s revenue for the quarter was up 7962.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. As a group, analysts expect that Joby Aviation, Inc. will post -0.69 EPS for the current year.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors have recently made changes to their positions in JOBY. Sowell Financial Services LLC acquired a new position in shares of Joby Aviation in the third quarter valued at approximately $663,000. Voya Investment Management LLC grew its holdings in Joby Aviation by 20.0% during the 3rd quarter. Voya Investment Management LLC now owns 1,150,050 shares of the company’s stock worth $18,562,000 after acquiring an additional 192,064 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Joby Aviation during the second quarter valued at $461,000. Ring Mountain Capital LLC acquired a new position in shares of Joby Aviation during the second quarter worth $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Joby Aviation during the second quarter worth $1,018,000. 52.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on JOBY. HC Wainwright reaffirmed a “neutral” rating on shares of Joby Aviation in a research report on Monday, November 24th. Morgan Stanley upped their price target on shares of Joby Aviation from $7.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Joby Aviation in a research report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $22.00 price target on shares of Joby Aviation in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Joby Aviation currently has a consensus rating of “Reduce” and an average target price of $13.43.

About Joby Aviation

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.