Joby Aviation (JOBY) insider Eric Allison has recently sold 21,101 shares of Joby Aviation stock in a transaction on July 13th. The shares were sold at an average price of $10.70, resulting in a total transaction value of $225,780.70. Following the completion of the sale, Allison now owns 336,017 shares of the company’s stock, with an approximate value of $3,595,381.90. The details of the transaction were disclosed in a legal filing with the Securities and Exchange Commission (SEC).
Stock Performance and Market Cap
Shares of Joby Aviation traded down to $9.85 during midday trading on Friday, experiencing a decrease of $0.71. The trading volume reached 9,314,570 shares, compared to the average volume of 5,606,805. Over the past 12 months, the stock has fluctuated between a low of $3.15 and a high of $11.98. Joby Aviation, Inc. currently has a market capitalization of $6.22 billion. The stock’s price-to-earnings (P/E) ratio stands at -18.58, and it has a beta of 2.12. Additionally, the stock’s 50-day moving average price is $6.92, while the 200-day moving average price is $5.06.
Quarterly Earnings and Analysts’ Predictions
Joby Aviation reported its quarterly earnings data on May 3rd, with an EPS (earnings per share) of ($0.16). This result fell short of analysts’ consensus estimates of ($0.15) by ($0.01). Analysts predict that Joby Aviation, Inc. will post an earnings for the year.
Analysts’ Ratings and Target Price
Various equities research analysts have shared their perspectives on Joby Aviation. Canaccord Genuity Group initiated coverage of Joby Aviation on June 9th and assigned a “buy” rating to the stock, along with a price target of $8.00. SpectralCast and 888 reaffirmed their “maintains” ratings on June 30th. Furthermore, STA Research reports that Joby Aviation currently holds a consensus rating of “Buy,” with a consensus target price of $8.00.
Institutional Investors’ Recent Activity
Several institutional investors have been actively buying and selling shares of Joby Aviation. FMR LLC increased its stake by 60.7% during the first quarter, now owning 6,065 shares valued at $26,000. CWM LLC also raised its position by 78.4% in the same period, with 8,301 shares valued at $36,000. Other institutional investors, such as EP Wealth Advisors LLC, Cahaba Wealth Management Inc., and Independent Advisor Alliance, have also entered the market or expanded their positions. Overall, institutional investors now own 30.98% of the company’s stock.
Joby Aviation’s stock price has experienced some volatility, with insider Eric Allison recently selling shares. Analysts maintain their ratings and target prices for the stock, while institutional investors have shown interest by increasing their stakes. Investors will continue to closely monitor Joby Aviation as it develops its electric vertical takeoff and landing (eVTOL) aircraft technology and advances toward commercialization.
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